Iran replaces Dollar with Euro in FX

[renewable]

http://www.presstv.ir/detail.aspx?id...onid=351020102

Iran's President Mahmoud Ahmadinejad has ordered the replacement of the US dollar by the euro in the country's foreign exchange accounts.

The September 12 edict was issued following a decision by the trustees of the country's foreign reserves, Mehr News Agency reported.

Earlier, the Islamic Republic of Iran had announced that the euro would replace the greenback in the country's oil transactions. Iran has called on other OPEC members to ditch the sinking dollar in favor of the more credible euro.

Following the switch, the interest rate for the facilities provided from the Foreign Exchange Reserves will be reduced from12 to 5 percent.

Since being introduced by the European Union, the euro has gained popularity internationally and there are now more euros in circulation than the dollar.

The move will also help decouple Iran from the US banking system.

Dissing the petrodollar was a capital offence for Saddam. Will it be for Mahmoud? 'They' can't invade a 3rd country.... can they?

[MulaMan]

Re: Iran replaces Dollar with Euro in FX

Iran probably learned from Iraq's mistakes and have oil deals with both Russia and China to ensure America's neotards do not bomb, bomb, bomb Iran as McCain wants.

The good news is that many of the McCain era neotards will soon be taking the long dirt nap.

[Jay]

Re: Iran replaces Dollar with Euro in FX

The good news is that many of the McCain era neotards will soon be taking the long dirt nap.

Care to explain, or are you just talking about old age?

[Diarmuid]

Re: Iran replaces Dollar with Euro in FX

Iran probably learned from Iraq's mistakes and have oil deals with both Russia and China to ensure America's neotards do not bomb, bomb, bomb Iran as McCain wants.

The good news is that many of the McCain era neotards will soon be taking the long dirt nap.

They are ALL Neotards, there is only one party, when it counts, and I would say the matter of Iran is one which counts - as to what policy that will entail, I do not know, but it will no doubt be from the same hymn sheet as the one, George, Rummy et al were singing from imho.

http://www.msnbc.msn.com/id/32626752...s-white_house/

The notion that he is moving the government to the left "is laughable, it's utterly laughable," said Thomas E. Mann, a government scholar at the Brookings Institution. Mann said the decision to keep Bernanke and Gates "doesn't buy him a thing with Republicans but was a sign of good judgment in both cases" because Bernanke and Gates were doing good jobs.Obama's larger problem is that he still does not have his own people in a majority of the government's top policymaking positions requiring Senate confirmation. But those he has put in top positions include a number of Republicans or nontraditional Democrats.
Along with Gates and Bernanke, they include:

• Sheila Bair as holdover chairwoman of the Federal Deposit Insurance Corp. She has played a major role in the management of the financial crisis. A one-time unsuccessful candidate for a Kansas House of Representatives seat, Bair was appointed by Bush in June 2006. Forbes Magazine ranks her as the second most powerful woman in the world behind German chancellor Angela Merkel.
• Ray LaHood, a former congressman from Illinois, as transportation secretary. He was elected as part of the "Gingrich Revolution" by Republicans in 1994's elections and was so trusted by both Republicans and Democrats that he was selected to preside over the House during the impeachment vote against President Bill Clinton.
• Former Rep. John McHugh from upstate New York, as Army secretary. McHugh was known by his House colleagues for an even temperament and willingness to work with Democrats.
• Former Utah Gov. Jon Huntsman, who was a Mormon missionary in China in his youth, as ambassador to China.
• Francis Collins, an evangelical Christian, as director of the National Institutes of Health.

Of course this article does not even touch on the hold overs on the military side of things, or the Goldman alumni.

[D-Mack]

Re: Iran replaces Dollar with Euro in FX

Iran probably learned from Iraq's mistakes and have oil deals with both Russia and China to ensure America's neotards do not bomb, bomb, bomb Iran as McCain wants.

The good news is that many of the McCain era neotards will soon be taking the long dirt nap.

Did I miss something ?

Buried in the debate leading to the US bombing and occupation of Iraq in March 2003 was a lawsuit under the US Freedom of Information Act brought by Sierra Club and Judicial Watch, initially to find data on Cheney`s role in the California energy crisis. The suit demanded that Vice President Cheney make public all documents and records of meetings related to his 2001 Energy Task Force project.

The US Commerce Department in summer 2003 ultimately released part of the documents, over ferocious Cheney and White House opposition. Amid the files of the domestic US energy review was, curiously enough, a detailed map of Iraqi oilfields, pipelines, refineries and terminals, as well as two charts detailing Iraqi oil and gas projects, and ‘Foreign Suitors for Iraqi Oilfield Contracts.’ The ‘foreign suitors’ included Russia, China and France, three UN Security Council members who openly opposed granting the US UN approval for invading Iraq.

The first act of post-war occupation by Washington was to declare null and void any contracts between the Iraqi government and Russia, China and France. Iraqi oil was to be an American affair, handled by American companies or their close cronies in Britain, the first victory in the high-stakes quest, ‘where the prize ultimately lies.’
http://www.engdahl.oilgeopolitics.ne...ian_giant.html

[don]

Re: Iran replaces Dollar with Euro in FX

They are ALL Neotards, there is only one party, when it counts, and I would say the matter of Iran is one which counts - as to what policy that will entail, I do not know, but it will no doubt be from the same hymn sheet as the one, George, Rummy et al were singing from imho.

http://www.msnbc.msn.com/id/32626752...s-white_house/


Of course this article does not even touch on the hold overs on the military side of things, or the Goldman alumni.

Absolutely. The Polish missile ploy has the effect of isolating Iran and building allies with the US, which always encourages more military adventures.

[renewable]

Re: Iran replaces Dollar with Euro in FX

Obama Says New Nuclear Fuel Plant Shows Iran Breaking UN Rules

President Barack Obama said Iran’s new nuclear fuel plant is “inconsistent with a peaceful nuclear program” and is evidence that the Islamist nation is again “breaking rules” that other nations follow.

The U.S., U.K. and France were given “detailed evidence” that Iran has been building this “covert uranium facility” for several years, Obama said in a statement at the Group of 20 economic summit in Pittsburgh.

The UN’s International Atomic Energy Agency said in a statement that it received a letter from Iran Sept. 21 saying that a new pilot fuel-enrichment plant is under construction.

Obama was accompanied by French President Nicholas Sarkozy and British Prime Minister Gordon Brown.

[GRG55]

Re: Iran replaces Dollar with Euro in FX

Absolutely. The Polish missile ploy has the effect of isolating Iran and building allies with the US, which always encourages more military adventures.

Perhaps not this time.

The missile defense shield deal with Russia looked to me as one indication of an important policy and fiscal shift described here...