Friday, January 27, 2006

Iran's new bourse may threaten the dollar

In 2000, Saddam Hussein announced that his country would begin pricing its oil in euros. Less than three years later, Iraq was invaded under the pretext it had an ongoing nuclear weapons programme and an arsenal of chemical and biological materials.

In March 2006, Iran is scheduled to open its own oil bourse that will trade in euros. But even before it can open its doors, Iran is being accused of harbouring a clandestine nuclear weapons programme and is being threatened with sanctions or worse.

Is the current US focus on Iran's nuclear facilities a genuine concern or is this another pretext to stave off a potential threat to the fiat dollar?

The answer to that question: A resounding THE LATTER!

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