I've blogged a bunch about the petrodollar--don't know what that is? In a nutshell, it's kind of a nickname for dollars used to buy oil from OPEC countries. A lot of folks don't know that the only way to get oil from OPEC member nations is by using USD. What happens if you don't have USD? You have to buy it. Read more about petrodollars here: http://en.wikipedia.org/…etrodollar
What does this have to do with Iran? Well, for a couple years now (see my first post on it here: http://thepete.com/…vade-iran/ ) Iran has been trying to get it's own oil bourse going. What's a bourse? Just a fancy-shmancy word for a commodities exchange. In this case, the commodity would be oil. Well, Iran has had a bit of trouble getting their bourse off the ground but they finally pulled it off on February 17, 2008--yep, just a couple of months back. Guess what currency they're selling oil with.
It ain't dollars.
And now, according to the above-screencapped April 6, 2008 article from AP.org (available here: http://biz.yahoo.com/…_opec.html ), Iran wants other OPEC nations to bail on the dollar, too. From the article:
"According to the Iranian government's Web site, Ahmadinejad told OPEC Secretary General Abdalla Salem el-Badri the cartel "should establish a joint bank as well as having joint currency.""
Sure, other OPEC nations don't support the change, but Iran isn't the first nation to stop trading oil with dollars--Venezuela doesn't.
Why am I so sure that Iran will be invaded because they don't want to sell oil with USD? Well, remember Saddam? He swapped out the dollar for the euro.
Yeeeah.
Middle East oil, not traded with the USD?
Good luck with that Iran.
Read more about that bourse here: http://en.wikipedia.org/…Oil_Bourse
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Replies.Orignal From: The Real Reason the US Will Invade Iran
1 comment:
No, it’s not the IOB, the Iranian Oil Bourse.
It’s the SCO, the Shanghai Cooperation Organization.
Nationalization, hyperinflation, SCO and Iran war
April 9th, 2008 by ivo
http://bphouse.com/blaze/honest_money/2008/04/09/nationalization-hyperinflation-sco-and-iran-war/
SNIPS
SCO Chief welcomes Iran’s membership. (SCO is the Shanghai Cooperation Organization)
OPEC President Chakib Khelil said at a conference in London on Tuesday that “the downfall of the dollar” was a major concern for the cartel, says The Los Angeles Times. (1) (OPEC is the Organization of Petroleum Exporting Countries)
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Iran is moving to join the Shanghai Cooperation Organization (SCO), said the Russian news agency op 24 March 2008 (5)
and the SCO Chief welcomes Iran’s membership, said IranMania.com on 29 March 2008.(6)
The SCO is an intergovernmental organization which was founded on June 14, 2001 by leaders of the People’s Republic of China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Except for Uzbekistan, the other countries had been members of the Shanghai Five; after the inclusion of Uzbekistan in 2001, the members renamed the organization. Many have looked at this organization as a counter to the North Atlantic Treaty Organization (NATO). (7)
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The joining of Iran is at present leading to world tensions which are similar to these preceding the First World War.
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