End Of The Petrodollar
Submitted by Knucklehead on Sat, 02/04/2012 - 01:30As tensions between the US and Iran heat up, author Michael T. Winter believes the main reason behind America’s harsh stance is Tehran’s move to seek an alternative to the dollar as an oil currency.
Economic sanctions, spearheaded by the US and, less willingly, the EU could have a disastrous effect on both of their respective economies. If Iran cannot sell their oil to Europe, there are plenty of customers waiting in the wings, and if they come bearing not petrodollars, but gold and sovereign currencies, then all the better for Iran. These sanctions, if enforced, will in effect place a serious dent in the power of the petrodollar.
Any rhetoric regarding Iran’s nuclear program and the insistence on crippling it is nothing more than a US attempt to force regime change for one more receptive to maintaining the hegemony of the petrodollar.
why
doesn't Ron Paul talk about this if it's true? You would think he would mention it. He understands the market and how the currency works. Does he not want to let the cat out of the bag?
***********Ron Paul for POTUS 2012***********
*************Obama Is A Communist!************
**********Repeal the 17th Amendment**********
Double the size of the House of Representatives
$$$$$$$$$AUDIT THE FEDERAL RESERVE$$$$$$$$$$
Great article
It has been obvious all along that this business with Iran is all about oil.
Yep
Especially when you look at it from a recent history standpoint that Iraq and Lybia both were looking to alternatives right before they took action against those countries.