Will Iran Sell Oil in Currencies Other Than the Dollar Starting March 20?
February 15th, 2012Via: Telegraph:
Last week, the Tehran Times noted that the Iranian oil bourse will start trading oil in currencies other than the dollar from March 20. This long-planned move is part of President Mahmoud Ahmadinejad’s vision of economic war with the west.
“The dispute over Iran’s nuclear programme is nothing more than a convenient excuse for the US to use threats to protect the ‘reserve currency’ status of the dollar,” the newspaper, which calls itself the voice of the Islamic Revolution, said.
“Recall that Saddam [Hussein] announced Iraq would no longer accept dollars for oil purchases in November 2000 and the US-Anglo invasion occurred in March 2003,” the Times continued. “Similarly, Iran opened its oil bourse in 2008, so it is a credit to Iranian negotiating ability that the ‘crisis’ has not come to a head long before now.”
Iran has the third-largest oil reserves in the world and pricing oil in currencies other than dollars is a provocative move aimed at Washington. If Iran switches to the non-dollar terms for its oil payments, there could be a new oil price that would be denominated in euro, yen or even the yuan or rupee.
This long-planned move is part of President Mahmoud Ahmadinejad’s vision of economic war with the west.
So it’s his “vision” — yeah right, not that he might have been provoked by the U.S. in the first place. Glenn Greenwald has a fine new piece out on how the media is framing Iran (i.e. lying):
U.S. media takes the lead on Iran
This is really what it’s all about. Cheney’s “Energy Taskforce” meeting way back in 2000 was the kickoff of US policy to make war on anyone who would threaten the reserve currency status of the US dollar for petroleum purchases. Iraq, Libya, and now Iran…I imagine big oil CEOs sitting around a huge map of the Middle East, dividing up the spoils through clouds of cigar smoke.
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According to more than a few observers, Gadhafi’s plan to quit selling Libyan oil in U.S. dollars — demanding payment instead in gold-backed “dinars” (a single African currency made from gold) — was the real cause. The regime, sitting on massive amounts of gold, estimated at close to 150 tons, was also pushing other African and Middle Eastern governments to follow suit.
And it literally had the potential to bring down the dollar and the world monetary system by extension, according to analysts. French President Nicolas Sarkozy reportedly went so far as to call Libya a “threat” to the financial security of the world. The “Insiders” were apparently panicking over Gadhafi’s plan.
“Any move such as that would certainly not be welcomed by the power elite today, who are responsible for controlling the world’s central banks,” noted financial analyst Anthony Wile, editor of the free market-oriented Daily Bell, in an interview with RT. “So yes, that would certainly be something that would cause his immediate dismissal and the need for other reasons to be brought forward [for] removing him from power.”
According to Wile, Gadhafi’s plan would have strengthened the whole continent of Africa in the eyes of economists backing sound money — not to mention investors. But it would have been especially devastating for the U.S. economy, the American dollar, and particularly the elite in charge of the system.
“The central banking Ponzi scheme requires an ever-increasing base of demand and the immediate silencing of those who would threaten its existence,”
Wile noted in a piece entitled “Gaddafi Planned Gold Dinar, Now Under Attack” earlier this year. “Perhaps that is what the hurry [was] in removing Gaddafi in particular and those who might have been sympathetic to his monetary idea.”
http://thenewamerican.com/economy/markets-mainmenu-45/9743-gadhafis-gold-money-plan-would-have-devastated-dollar
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Obama Signs Executive Order On Iran – accuses the Iranian central bank of deceptive banking practices.
(Because they want to dump the dollar!)
On February 5, 2012, President Obama invoked the NDAA, which authorizes the use of military force, and issues an executive order declaring the “threat” of Iran a National Emergency. The video below shows this issuance of President Obama executive order which declares Iran’s threat to cut off oil supplies a national emergency.
The executive order directs all government agencies to respond immediately to the threat. It further invokes the authority of the 2012 NDAA (National Defense Authorization Act) which gives the President the power to launch military action against any nation without the approval of Congress. Ironically, the State of Emergency order also accuses the Iranian central bank of deceptive banking practices.
The video is very alarming and in plain view!!!
http://www.collapsenet.com/free-resources/collapsenet-public-access/must-see-videos/item/6378-obama-signs-executive-order-on-iran
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Short answer: Not if something were to interrupt their oil business before March 20.
So Syria first, then Iran is the obvious prediction….the next question becomes who’s after Iran… Any guess folks? I’d say Pakistan but we all ready have a semi war going there… Indonesia is the world’s largest Muslim country if I understand correctly.