Iran's Oil Bourse: A Threat to the U.S. Economy (WMD)

[lovuian]

http://feeds.bignewsnetwork.com/redir.php?jid=04d222344c1ac47c&cat=3a8a80d6f705f8cc

While Iran's nuclear program has become a major focus of the international media, there are many who strongly believe that the program is only a cover for the U.S. government's true motive in a possible attack against Iran.

What some analysts posit is the real concern for the United States is Iran's plan to open its own oil exchange — the Iranian Oil Bourse (IOB) — with the alleged goal of becoming the dominant center of the Middle East's oil trade.

What makes the IOB the subject of such interest by the American government? According to rumors, which first vaulted the issue into the spotlight, the financial exchange in the aforementioned bourse will trade for oil in euros instead of the U.S. dollar. The dollar has long been the dominant currency for international oil trade.

A Threat to the U.S. Economy?
The debate over the ultimate financial impact of trading oil in euros rather than dollars is a complex one, but according to some experts such a move could lead to a huge drop in value for the American currency, potentially putting the U.S. economy in its greatest crisis since the depression era of the 1930s.
snip...
"The weapon of oil in the hands of Iran's regime is more dangerous than any other weapon," said a recently published article in Italy's Panorama newsmagazine.
more...

I really believe this is why Bush is going to attack Iran...this is a economic nuke...:nuke: to the dollar According to the article it opens in a couple of months...

[Pavulon]

1. That was supposed to happen

and cause a war last month..

[ret5hd]

2. i believe it was delayed 6mos-1yr.

last i heard anyway.

[lovuian]

3. According to the article its going up in a couple of months

but its happening...

[madeline_con]

4. Well, whaddaya know?

Just like Mr. Hussein's audacity at trading his petro in Euros, it's about oil profits. Who'da thunk it? :think:

[tatertop]

5. China, Russia, Europe, Japan.....

holding and worshipping yankee dollars
they really really want to dump.
We are fucked.

[Dunvegan]

6. Considering the country has been bankrupted, debted for trillions...

...manufacturing lost, minimum-wage stalled in last century's minimums, and very little left but a "service economy" (low-paying, high-turnover jobs)...I suppose someone thinks we can't afford the Iranian Bourse's challenge to USD hegemony without tanking the highly marginal US economy altogether.

Wasn't Saddam about to go oil-for-Euro just before Shock-and-Awe?