¿What is the next for the american dollar? We remember the OPEC MEETING from the last november, when Iran and Venezuela, try to include american dollar in OPEC talks. This time, Saudi Arabia block any kind of talk about the dollar, but the game is not over yet.
During 2007, the Bankers in Iran have complained that it was becoming increasingly difficult to receive Iranian-held money denominated in dollars from European bank accounts. They said that this was because of United States pressure on European banking giants not to allow dollar-denominated funds to be sent into, or out of, the Islamic republic government of Iran.
Iran and Venezuela, are looking to reduce its dependence on the dollar, want to reduce this kind of vulnerability. Foreign income sources and oil revenues should be calculated in euros and want to receive them in euros in order to put an end to its dependence on the dollar.
For Iran, the 60 percent of oil sales are already being carried out in dollars in another hand for Venezuela represents around 90 percent of oil sales.
This week Iran has stopped selling its oil for american dollars, the Iran’s oil minister, Gholamhossein Nozari say: “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,” and, He also said “the dollar is no longer a reliable currency.”
If we remember the last week, Russia through Gazprom is mulling over the possibility to sell natural gas and crude oil for rubbles. Gazprom has 118,367.564 million rubbles in stock capital split into 23,673,512.9 thousand common stocks, 5 rubbles par each.
¿The Dollar has problems? The United States is the hegemony, yet. But its currency is experimenting a real globalization, because now, the dollar needs to fight with the yuan, the euro, and maybe (soon) the rubble but its main enemy is the same american dollar, the real adversary is the american currency policy. For this reason, The United States needs to improve its foreign and currency policy.
|Manuel Torres Laveaga
If you liked this post, buy Me a Coffee. (Suggested: $3 for a standard or $5 for a mocha)
Submit to Social Networks (digg, stumble upon, del.icio.us, ...)
Found it interesting? Don't forget to bookmark the feed from the site.
Posted by MaT on December 10th, 2007 China, Currency Policy, Europe, India, United States, Venezuela | Trackback |
Excellent note.
This only makes me think about the retaliation measures the state’s will take.
Months ago one would think that a decision like this by Iran would def. bring the militar arm of the US upon them, however this week they said their intel had reason to believe they were not building nuclear weapons in Iran so they don’t really have a good excuse to go and take over Iran… although after 9/11, it doesn’t seem they need one.
This brings me to the next possible ocupation for oil and to keep the currency as king in the region… will they now come after Venezuela? is this the reason why Chavez accepted his defeat, and why he’s always been talking about a war with the empire? It seems to me that he knew what Iran just did, and he thought to himself
“bad timing for my new constitution”
If I “win”, then there will be a bloodsheed (probably masterminded or guided in part by the CIA) and then they will be able to have reason to come and “put order” in Venezuela.
“I better appear as a democratic leader before the international community, even though I’m a big mouthed bastard, they won’t be able to say that I didn’t accept the results of the elections and they won’t have any reason to really call me a tyran. Nonetheless I’ll still be in power with a barrel of almost $100″
Now I know why he lost the elections.
:: Trackbacks/Pingbacks ::
No Trackbacks/Pingbacks
Leave a Comment