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Iran stops accepting U.S. dollars for oil
"TEHRAN, December 8 (RIA Novosti) - Iran has stopped selling its oil for U.S. dollars, the Iranian ISNA news agency said on Saturday, citing the country's oil minister.
"In line with a policy of selling crude oil in currencies other than the U.S. dollar, the sale of our country's oil in U.S. dollars has been completely eliminated," ISNA reported Oil Minister Gholamhossein Nozari as saying.
He also said "the dollar is no longer a reliable currency."
posted by nolocontendere at 10:42 AM
5 Comments:
This is the move that got Iraq invaded, exactly the same move. It was the last straw we invaded very soon after.
yikes.
Good observation. I'm wondering if it will precipitate a stampede away from the dollar in the weeks ahead.
oh shit.
hang on to your britches!
By the way, love the title of the post too LOL.
We've been doing that anyway hehe.
waiting for the other shoe to drop...
I was predicting a massive sell off in the stock market and at least $100/bl oil. on Monday. what gives?
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