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To: DB
They aren't going to like it...

No - it is we who are not going to like it. This is an economic attack on the dollar. Currently all the oil in the world is sold in dollars. The Iranians intend to eventually sell their oil only in Euro's. This could seriously weaken the dollar. If anything this will be the real reason we go to war with Iran
3 posted on 06/07/2006 5:03:08 AM PDT by The Lumster (USA - where the innocent have nothing to fear!)
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To: The Lumster
If anything this will be the real reason we go to war with Iran

You are correct; one of the few, at least on this forum, that get it.

4 posted on 06/07/2006 5:16:51 AM PDT by Bear_Slayer (When liberty is outlawed only outlaws will have liberty)
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To: The Lumster
The dollars going to be a lot harder to manipulate.

Iran setting up its "Oil Bourse" is a lot more than demanding Euros. It is an oil exchange. An exchange requires law, stability and transparency. None of which you can find in Iran. I think Iran's Oil Bourse is going to be punished by the markets.
5 posted on 06/07/2006 5:17:55 AM PDT by DB (©)
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To: The Lumster
--- Currently all the oil in the world is sold in dollars. The Iranians intend to eventually sell their oil only in Euro's ---

I thought the Iranian Oil Bourse was to eventually, or theoretically, serve as an exchange for all oil bought and sold?

7 posted on 06/07/2006 5:20:30 AM PDT by avacado
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To: The Lumster
The Iranians intend to eventually sell their oil only in Euro's.

To attract buyers and sellers, the exchange would have to be generally accepted as generating prices that reflect real world conditions. If prices are in terms of euros or dollars, it would not matter much. There are, after all, exchange rate markets. The questions are, how liquid will the oil bourse be, how free of price manipulation?

This could seriously weaken the dollar.

Is the dollar strong or weak now? Why are US authorities complaining about China's currency being too weak against the dollar? Is the Swiss franc strong? Who trades what major commodities in Swiss francs? A currency's strength or weakness is only meaningful in terms of confidence in its future buying power. And that is a reflection of a country's monetary policy, not of the specific units used to quotes prices.

If anything this will be the real reason we go to war with Iran

On the contrary, if Iran is serious about a establishing a real oil exchange, then it will be forced to show a commitment to the international market order, a good thing. That being said, my first reaction is that this bourse project is likely a con game meant to put into effect the rule, a mullah and his money are soon parted.

8 posted on 06/07/2006 5:29:59 AM PDT by chinche
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To: The Lumster

Not this sh*t again!?

A "bourse" set up for $2000 in a country with no laws, no transparency, no independent judiciary, no way.


20 posted on 06/07/2006 8:50:02 PM PDT by Philistone (Turning lead into gold...)
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