Threat to the U.S.: Irans "nukes" or the Euro?

Oil consuming countries have no choice but to use the American Dollar in order to purchase their oil, since the dollar has so far been the global standard monetary fund for oil exchange. This in turn requires these countries to keep the dollar in their central banks as their reserve fund, therefore 'helping' in strengthening the American economy.

However, if Iran, followed by other oil-producing countries, begins to accept the Euro as another choice for oil exchange the American economy would suffer greatly, what many would call 'a real crisis'.

<--snip-->

Many countries have studied the conversion from the ever weakening petro-dollar to the gradually strengthening petro-euro system. The de-valuation of the dollar was caused by the American economy shying away from manufacturing local products, except those of the military, by outsourcing American jobs to cheaper developing countries and depending only on the general service sector, and by the huge cost of two major wars that are still going on.

http://www.aljazeera.com/cgi-bin/review/article_full_story.asp?service_ID=7493

If all the OPEC countries switched their oil currency to the Euro, we would be fucked. If China sold all it's T-bills we would be fucked too.

Weapons of war, use 'em if you got 'em.