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Originally Posted by blackfeet
in march, iran plans to open their own stock market to sell oil traded with euros instead of US dollars. even if the US were to attack under the disguise of ridding them of their n*uk ambitions, the war in it's self would have these metals to rise. iran is not going to be a cake walk like iraq. besides, we still haven't resolved the issue with iraq as of yet. mo money, mo money, mo money!
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If that's true we will soon be at war with Iran.. Saddam tried to sell oil in Euro's and look where that got him. Practically the first thing we did when we invaded Iraq was to change oil sales back to US dollars.
Right now the major thing that keeps the US dollar as the defacto currency world wide is because oil is only allowed to be bought and sold in U.S dollars. Oil has replaced gold as to the worth of the dollar.
If Iraq or Iran was able to sell oil in Euros it would start a domino effect as there are a lot of countries that would love to buy oil in Euros because they lose a ton of money buying in U.S dollars.