Iranian Oil Bourse? Someone please explain?

[armand61685]

Is there any real reason to consider this? Or is this just internet and digg conspiracy fear?

What exactly is going on? Is it going to happen on Monday? Why is no one talking about it? Thanks..

[armand61685]

bumpp

[m72mc]

Is there any real reason to consider this? Or is this just internet and digg conspiracy fear?

What exactly is going on? Is it going to happen on Monday? Why is no one talking about it? Thanks..

http://www.youtube.com/watch?v=NbakN7SLdbk

[expatinireland]

Iran is indeed starting up an exchange for trading petroleum in currencies other than the US dollar. It is supposed to be up and running before the middle of this month.

[MyKillK]

The Iranian Oil Bourse (IOB) is real. It's been under planning for several years and it is anticipated to open in the coming week. That, however, may change due to crippled communications from the disable undersea cables.

Basically it's a hydrocarbon exchange that prices in non-US Dollar currencies. I believe the IOB has been in operation for a year or so already, but only dealing with specific petrochemicals, and not crude.

Once it begins exchanging crude, the fear is that the US Dollar domination of the oil trade will fall apart. This would be devastating to our currency and economy. Oil is basically the only thing that backs the US Dollar anymore.

However, the real question is whether the IOB can sustain enough volume of activity to really make any impact. The US has for years been pressuring as many countries as possible to impose trade sanctions against Iran. I can't tell you how successful they've been, but I'm sure a lot of resources have been spent towards this goal.

Enter my conspiracy theory: I believe the communications cables were disabled for the specific purpose of delaying the opening of crude trade on the IOB and sending a message to anyone who plans on participating in the exchange.

[Ayse]

http://www.energybulletin.net/12125.html

[All Seeing Eye]

It is very real.

FYI - Iraq opened one trading in Euros not long before the invasion.

Yikes huh?

[LibertyRevolution]

http://www.energybulletin.net/12125.html

READ THIS ARTICLE!

[Maltheus]

Enter my conspiracy theory: I believe the communications cables were disabled for the specific purpose of delaying the opening of crude trade on the IOB and sending a message to anyone who plans on participating in the exchange.

I think that precisely what was done. Some thought it was a prelude to war with Iran. To me, it was a temporary alternative to war. In either case, the Iranian Oil Bourse is not only real, it's probably the most important story of 2008. You'll definitely want to be in gold before that goes online (unless, of course, we manage to bomb them out of their decision).

[libertythor]

Does all oil trade through Iran have to go through this bourse?

[MyKillK]

Does all oil trade through Iran have to go through this bourse?

I haven't red a specific answer to that question but my thought is yes, it will.

Iran has stated many times it wants to move away from dollar denominated exchanges so it wouldn't make sense for them to offer an alternative to compete with their non-dollar denominated exchange.

[armand61685]

Ok some people say this has been going on already, and that Iran has made moves towards this already. So how is this different?

Thanks

[MoneyWhereMyMouthIs2]

The Iranian Oil Bourse (IOB) is real. It's been under planning for several years and it is anticipated to open in the coming week. That, however, may change due to crippled communications from the disable undersea cables.

Basically it's a hydrocarbon exchange that prices in non-US Dollar currencies. I believe the IOB has been in operation for a year or so already, but only dealing with specific petrochemicals, and not crude.

Once it begins exchanging crude, the fear is that the US Dollar domination of the oil trade will fall apart. This would be devastating to our currency and economy. Oil is basically the only thing that backs the US Dollar anymore.

Just to connect the dots for anyone that needs it, anybody that buys oil in US dollars needs to acquire them first, causing world demand for dollars to rise, and causing the value of the dollar to rise against other currencies and goods.

Ya know... sometimes I think the establishment in general doesn't understand economics. Their posturing regarding oil sales in US dollars tells me otherwise. They just play stupid when convenient, which seems to be most of the time. When it comes down to it, they understand economics, but prefer to hold a morally problematic stance.

[MyKillK]

Ok some people say this has been going on already, and that Iran has made moves towards this already. So how is this different?

Thanks

The IOB has already been running, but only exchanging specific petrochemicals which represent only a small fraction of the hydrocarbon market. Crude oil is where the big, big money is and the most recent news is that crude exchange will open up in the coming weeks.

Crude is the 800 pound gorilla. A successful crude exchange operating in a currency other than our dollar would be the last straw that allows our currency and economy to crumble to dust. The keyword is 'successful' though...

[Roxi]

Iran has already started asking energy customers to stop paying in the dollar and a big percentage of them have complied, they are trying to completely wipe out the use of the dollar in Iran, which should come as no surprise the way we have been treating Iran, we punish Iran's economy because of their dictator, the people of Iran dont want a crappy economy any more than americans do, so in turn they do the same thing and blame all of us for our dictator

[Maltheus]

Ok some people say this has been going on already, and that Iran has made moves towards this already. So how is this different?

Iran is now pricing their oil in Euros. But this sets up a free market exchange that a greater number of nations can participate in. The ultimate goal of OPEC nations is to be able to freely trade, without having to acquire a particular currency first. And this exchange would be competing with the ones in New York and London.

[MyKillK]

And just to echo another poster...

I agree that the IOB is the biggest story of 2008. Somehow link in this mysterious undersea communication cable ordeal and it could become the biggest story since Iran-Contra.

The fact that the MSM is not talking about either event only confirms to me the seriousness of it all.

[Mark]

Saddam Hussein was going to do it too - and you know what happened to him.


http://i.ytimg.com/vi/QVqkKN3HJJ0/default.jpg (http://youtube.com/watch?v=QVqkKN3HJJ0)
The Iraq War is About the Dollar (http://youtube.com/watch?v=QVqkKN3HJJ0)
03:49
Added: 1 month ago
Views: 91

[entropy]

I have been very apprehensive about Iran's oil bourse. Funny how those cables got messed up. Maybe this is the intelligence communities way of avoiding military action, you know a last ditch effort to stop it from happening.....

We live in interesting times indeed, damn scary too.

[CurtisLow]

http://www.youtube.com/watch?v=NbakN7SLdbk

That's what it's all about!

[PeacePlan]

Saddam Hussein was going to do it too - and you know what happened to him.


http://i.ytimg.com/vi/QVqkKN3HJJ0/default.jpg (http://youtube.com/watch?v=QVqkKN3HJJ0)
The Iraq War is About the Dollar (http://youtube.com/watch?v=QVqkKN3HJJ0)
03:49
Added: 1 month ago
Views: 91


Saddam was only selling his oil for euros - he was doing it! We attacked?