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disorderlyvision
09-25-2009, 10:15 AM
http://www.arabianbusiness.com/568241-tehran-dumps-dollar-for-euro


Iran's President Mahmoud Ahmadinejad has ordered the replacement of the US dollar by the euro in calculating the value of the country's Oil Stabilisation Fund (OSF).

The edict, issued on Sept 12, follows a recommendation by the trustees of the country's foreign reserves, Iran's English-language daily The Tehran Times said on Monday, citing Iran's semi-official Mehr News Agency.

The move was taken because the government wishes to protect itself from the fragility of the US economy and the weak dollar.

The OSF, which forms part of Iran’s foreign exchange reserves, is a contingency fund set aside to cushion the economy against fluctuating international oil prices.

It is also used to help both the public and private sectors with their hard currency needs by extending loans.

Press TV meanwhile reported that following the switch the interest rate for facilities provided from the foreign exchange reserves is to be cut to 5 percent from 12 percent.

Since its introduction in 1999 by the EU the euro has gained popularity internationally and there are now more euros in circulation than the dollar.
disorderlyvision
09-25-2009, 04:24 PM
bump
LibertyWorker
09-25-2009, 04:28 PM
Iraq was doing the same thing right before we invaded and took the country over.
ghengis86
09-25-2009, 04:33 PM
Iraq was doing the same thing right before we invaded and took the country over.

exactly. TPTB will claim Iran is seeking nuclear weapons, a threat to the region, etc. etc., but in actuality, they're just pissed their shitty greenback is toilet paper and that the rest of the world has figured it out and is dumping the fiat currency.

anyone sensing some US 'shock and awe' via Israel?
Dreamofunity
09-25-2009, 04:34 PM
Iraq was doing the same thing right before we invaded and took the country over.

This.

Plus all the recent news on Iran working on a bomb...

This isn't a good sign.
tpreitzel
09-25-2009, 04:37 PM
Now we know the real reason for the harsher tone against Iran from Europe and the US. ;) Invasion time. Next?
Warrior_of_Freedom
09-25-2009, 04:40 PM
Now we know the real reason for the harsher tone against Iran from Europe and the US. ;) Invasion time. Next?

Don't like hearing sarcasm, I'm sure you don't want to be drafted and get oil in your eyes ;)
LibertyWorker
09-25-2009, 04:42 PM
exactly. TPTB will claim Iran is seeking nuclear weapons, a threat to the region, etc. etc., but in actuality, they're just pissed their shitty greenback is toilet paper and that the rest of the world has figured it out and is dumping the fiat currency.

anyone sensing some US 'shock and awe' via Israel?


nuclear weapons is just a cover for the fact that the U.S. has been at odds with Iran because they will not privatize there oil fields.

this fight has been going on from the moment we killed there elected president back in the 1950's. And tried to put in a U.S. puppet government that would privatize the oil fields so BP and other oil companys could come in and enslave the people.
tpreitzel
09-25-2009, 04:43 PM
anyone sensing some US 'shock and awe' via Israel?

Yes. Israel is the most dangerous country in the Middle East due to our relentless expenditures on her behalf. We build up Israel's enemies so we have an excuse to build up Israel. The situation is just peachy for Israel and her enemies until some country like Israel or Iran does something absolutely foolish. The US will be indirectly responsible for the conflagration. Since I believe in biblical scripture, the odds are heavily in favor of Israel starting the fight with the other nations in the region responding predictably. We'll see, unfortunately. I sincerely hope that I'm flat out, 100% wrong.
TXcarlosTX
09-25-2009, 04:49 PM
hmmm... this is about to get dirty
KCIndy
09-25-2009, 04:55 PM
Well, if this is the start of the Big Dump of the dollar, hang on to your hats! :eek:
jmag
09-25-2009, 05:09 PM
What does Europe think of us invading countries that adopt their currency? I've seen this reported since Iraq, but I'm confused. We are 'friends' with Europe, but enemies with those that drop the dollar for the euro.

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raiha
09-25-2009, 05:10 PM
At least Bush Cheney et al were overt hawks. Obama is a hawk in dove's clothing. Mealy-mouthed hypocrite!
Well with all this war mongering going on, there won't be much publicity about the Fed audit bill. Gotta get your priorities right huh!