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  OIL  AND  THE  DOLLAR    

IRAN REJECTS DOMINANCE OF THE US DOLLAR

In March, an international oil exchange was opened in Iran, with trading taking place using Euros. This move has set a precedent: in modern history oil has been quoted exclusively in dollars.

Alarmists and anti-globalists from all countries have rushed to describe this as yet another sentence against the hegemony of the dollar and the USA.

But it could be dangerous to Iran itself. It is logical to assume that with the slightest danger to the American financial world order, the White House will put an end to the Iranian experiment in trading oil for euros, with the use of winged missiles and Abrams tanks.

Another example of a revolt against the oil dollar took place in Iraq. Two years before the US invasion of Iraq, Saddam Hussein switched from the dollar to the euro. This was one of the reasons for the aggression of American forces against this country.

 

CHAVEZ THREATENS TO CUT OIL

Venezuelan President Hugo Chavez is backing Iran’s nuclear policy, and has warned he could cut off oil exports to the United States if Washington goes “over the line” in what he has said are attempts to destabilize his left-leaning government.

SYRIA SWITCHES TO EURO

Syria has switched all of the state’s foreign currency transactions to euros from dollars because of political confrontations with the United States.

The Syrian government said the decision is to protect its export, import and services payments, and to protect the national economy.

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