Once again your "erudite" response is so out of date as to be painful. You still don't get it. It's got nothing to do with the Euro versus the dollar but an "economical suicide bomber COUNTRY" deciding to pressure the weakness of the Dollar in the economical framework of the world and tip it over.
The oil bourse does not have to work - in western terms - as a successfull venture - it probably won't - but it will be sufficient to rock the boat at first and then capsize it.
The tumble will NOT be gradual since every effort by the central banks of the world and by all the economical might of the USA will NOT be able to stop let alone slow the tumble.
There is simply not enough nmoney in the world to buy up the amount of dollars which will be jettisoned onto the market once oil gets unlinked from the Dollar. Money is a commodity and a glut on the market as with beans or pork fat drops it's value. If nobody will buy it - and at a certain point in time nobody will - the value will be zero.
Other currencies will follow suit and crash so it's not a matter of currencies - it's the Hojatieh destructiveness of neo-Iran aimed at destroying the global economy and the total vulnerability of this when push comes to shove. With NOTHING in the world's defenses able to prevent a lunatic nation from achieving this end.
Now is this clearer or are you still in your inside the box, out of date thinking mode?
Just as you would have been had you denigrated someone for warning that Pol Pot would kill off a couple of million of his citizens on the basis that they would revolt, would resist etc. They didn't and he did. It was a one of a kind situation and that's what we face today with Ahmadi-Nejad.
That's also why the only possible solution is to take Iran out of the picture completely rather than chit chat with them. Way past that point in time. Even beyond nuclear reasons, which are far less dire than the economical harm Iran can cause.
So you are saying that a large number of otherwise rational human beings would willingly participate in the total liquidation of their assets in return for zero?
Not likely. As the return on the Dollar falls below that which was paid for it, many will simply wait for a possible rebound than sell at a definitive loss.
Baloney.