Iran dumps U.S. dollar for oil trades

[QUOTE="Truth_Seekr"][QUOTE="jointed"][QUOTE="Truth_Seekr"]

lol

I've been mentioning this for quite awhile now!!!!
http://www.gamespot.com/pages/forums/show_msgs.php?topic_id=26337486&msg_id=300422419#300422419

Next thing you know, we will claim that Iran has WMDs and try to invade them, just like Iraq, for the exact same reason(switching to Euro market)

jointed

Do you seriously believe this?

Well, wasn't that the reason we went into Iraq?

No, it wasn't...

And do you really expect the next president to be as foolish as the Bush Administration?

I would hope the next president isn't as stupid as Bush, but you never know. We certainly don't have the best line-up to choose from. In any event, I thought we had gone into Iraq because Saddam decided to denominate all his transactions in Euros instead of Dollars, and so away we went in, took control of the oil and switched transactions on the market to be done in Dollars once again.

[QUOTE="jointed"][QUOTE="Truth_Seekr"][QUOTE="jointed"][QUOTE="Truth_Seekr"]

lol

I've been mentioning this for quite awhile now!!!!
http://www.gamespot.com/pages/forums/show_msgs.php?topic_id=26337486&msg_id=300422419#300422419

Next thing you know, we will claim that Iran has WMDs and try to invade them, just like Iraq, for the exact same reason(switching to Euro market)

Truth_Seekr

Do you seriously believe this?

Well, wasn't that the reason we went into Iraq?

No, it wasn't...

And do you really expect the next president to be as foolish as the Bush Administration?

I would hope the next president isn't as stupid as Bush, but you never know. We certainly don't have the best line-up to choose from. In any event, I thought we had gone into Iraq because Saddam decided to denominate all his transactions in Euros instead of Dollars, and so away we went in, took control of the oil and switched transactions on the market to be done in Dollars once again.

Okay, please go ahead and explain your version of the petrodollar recycle...so I know what I'm arguing against.

By the way my post above about *Wonderful military * wasnt sly /snidey

These people do a wonderful job .. I served in a Respected UK Regt, at Liverpool Docks ... was a civvie but was in Gulf 1 an 2 ...

Fact is soldiers even part time have shout to stop the USA going mental with Iran ...

US/$ ECONOMY WILL DIVE ..we will see bush invading Iran soon to support the $ ( being a super power a huge ammount is taken from the tax payer nearly 89% for ALL miltary spending, the rest is the economy ..)

most Yanks dont even Know where there tax $ goes ...

[QUOTE="Truth_Seekr"][QUOTE="jointed"][QUOTE="Truth_Seekr"][QUOTE="jointed"][QUOTE="Truth_Seekr"]

lol

I've been mentioning this for quite awhile now!!!!
http://www.gamespot.com/pages/forums/show_msgs.php?topic_id=26337486&msg_id=300422419#300422419

Next thing you know, we will claim that Iran has WMDs and try to invade them, just like Iraq, for the exact same reason(switching to Euro market)

jointed

Do you seriously believe this?

Well, wasn't that the reason we went into Iraq?

No, it wasn't...

And do you really expect the next president to be as foolish as the Bush Administration?

I would hope the next president isn't as stupid as Bush, but you never know. We certainly don't have the best line-up to choose from. In any event, I thought we had gone into Iraq because Saddam decided to denominate all his transactions in Euros instead of Dollars, and so away we went in, took control of the oil and switched transactions on the market to be done in Dollars once again.

Okay, please go ahead and explain your version of the petrodollar recycle...so I know what I'm arguing against.

Well I'm not certain through what entities the money gets circulated through before going back to the Federal Reserve Bank of NY, but what I am certain of is it couldnt've been done in Euros since the Federal Reserve cannot print them, and so our money tree would be gone. So to speak.

[QUOTE="jointed"][QUOTE="Truth_Seekr"][QUOTE="jointed"][QUOTE="Truth_Seekr"][QUOTE="jointed"][QUOTE="Truth_Seekr"]

lol

I've been mentioning this for quite awhile now!!!!
http://www.gamespot.com/pages/forums/show_msgs.php?topic_id=26337486&msg_id=300422419#300422419

Next thing you know, we will claim that Iran has WMDs and try to invade them, just like Iraq, for the exact same reason(switching to Euro market)

Truth_Seekr

Do you seriously believe this?

Well, wasn't that the reason we went into Iraq?

No, it wasn't...

And do you really expect the next president to be as foolish as the Bush Administration?

I would hope the next president isn't as stupid as Bush, but you never know. We certainly don't have the best line-up to choose from. In any event, I thought we had gone into Iraq because Saddam decided to denominate all his transactions in Euros instead of Dollars, and so away we went in, took control of the oil and switched transactions on the market to be done in Dollars once again.

Okay, please go ahead and explain your version of the petrodollar recycle...so I know what I'm arguing against.

Well I'm not certain through what entities the money gets circulated through before going back to the Federal Reserve Bank of NY, but what I am certain of is it couldnt've been done in Euros since the Federal Reserve cannot print them, and so our money tree would be gone. So to speak.

Okay, well this is the general petrodollar theory:

Oil is traded in dollars, western nations need to acquire the mentioned currency in order to buy oil, in other words; they're forced to trade with the US. When the middle eastern countries receive the dollars, they immediately put it back into US banks.

There are many errors in this hypothesis though, especially it's emphasis on the dollar denomination of commodities and the physical location of major oil exchanges.