Msg. 10604 of 54959 (This msg. is a reply to
10274 by
faul)
Jump:
maybe the reason iran's currency is struggling is because it has too few dollars rather than too many - if iran is flush with rupees, and rupees pay for nothing much other than indian produce, why would you want rials any more than rupees?
The Iranian regime is well aware of what happens
to countries that drop their Oil for dollars for alternative
currencies.....but they did it early this year anyway knowing
full well what happens after.........it is apparently written.
From The Telegraph....
“The dispute over Iran’s nuclear programme is nothing more than a convenient excuse for the US to use threats to protect the 'reserve currency’ status of the dollar,” the newspaper, which calls itself the voice of the Islamic Revolution, said.
“Recall that Saddam [Hussein] announced Iraq would no longer accept dollars for oil purchases in November 2000 and the US-Anglo invasion occurred in March 2003,” the Times continued. “Similarly, Iran opened its oil bourse in 2008, so it is a credit to Iranian negotiating ability that the 'crisis’ has not come to a head long before now.”
Iran has the third-largest oil reserves in the world and pricing oil in currencies other than dollars is a provocative move aimed at Washington. If Iran switches to the non-dollar terms for its oil payments, there could be a new oil price that would be denominated in euro, yen or even the yuan or rupee.
India is already in talks with Iran over how it can pay for its oil in rupees.
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