Oil Bourse - Has RP mentioned this at all?

[Quizno]

This was originally scheduled to happen in 2006 but has been pushed back. Now they are saying that it will open in February 2008. Has anyone seen any info on the MSM about this? I wonder if it has anything to do with the recent "event" with the boats?

http://en.wikipedia.org/wiki/Iranian_Oil_Bourse

From Wikipedia:


Iran is planning to open a commodity exchange, variously referred to as the Iran Petroleum Exchange, International Oil Bourse or Iranian Oil Bourse. The acronym IOB has been used as it can be interpreted as either "International Oil Bourse" or "Iranian Oil Bourse", but it has no official status. It would be a Petrobourse for petroleum, petrochemicals and gas in various non-dollar currencies, primarily the euro. If successful, it would establish a euro-based pricing mechanism for oil trading, or oil marker as it is called by traders.

Edit: If the dollar was actually backed by something this would not be as large of an issue as it is.


September 2007 Japan's Nippon Oil has agreed to buy Iranian oil using yen. [16]

December 2007 Iran stops accepting U.S. dollars for oil. [17]

January 2008 Iran's Finance Minister Davoud Danesh-Jafari told reporters the bourse will be inaugurated during the anniversary of the Islamic Revolution (February 1-11) at the latest.

[Quizno]

Ok, I will answer my own question lol. Yes he has commented on this.

http://www.ronpaullibrary.org/document.php?id=543

Here's a few excerpts from the above article:


The agreement with OPEC in the 1970s to price oil in dollars has provided tremendous artificial strength to the dollar as the preeminent reserve currency. This has created a universal demand for the dollar, and soaks up the huge number of new dollars generated each year. Last year alone M3 increased over $700 billion.

The artificial demand for our dollar, along with our military might, places us in the unique position to “rule” the world without productive work or savings, and without limits on consumer spending or deficits. The problem is, it can’t last.


Concern for pricing oil only in dollars helps explain our willingness to drop everything and teach Saddam Hussein a lesson for his defiance in demanding Euros for oil.

And once again there’s this urgent call for sanctions and threats of force against Iran at the precise time Iran is opening a new oil exchange with all transactions in Euros.

Another reason to have to dollar backed by gold or silver.

[rollingpig]

this is one of the reasons that we want to bomb iran.

[chinaCat]

this is one of the reasons that we want to bomb iran.

this, i believe, is the main reason.