While the world press has focused on Iran's plans to move ahead with enriching uranium, Tehran continues to wage economic war against the U.S. dollar behind the scenes.
Tehran has reached a decision to end all oil sales in dollars, according to statements by Iran's central bank governor, Ehrabhim Sheibany, in Kuala Lumpur at the end of last month.
Full Story »
One prime cause of the flight from the dollar is the deficit borrow-and-spend budget the US has implemented, which cannot be blamed upon Iran and China. For a more entertaining and fuller examination of oil trading and the dollar, sit down and watch Robert Newman at http://video.google.com/videoplay?docid=7374585792978336967 He recounts that three countries declared an intent to move oil trade away from the dollar significantly prior to the Iraq invasion. They were Iraq, Iran, and North Korea. Now it becomes clearer where Bush got the selection criteria for spawning his "axis of evil" epithet. The story shows the move from the dollar is continuing and evolving.
