Countries converting to Euros -- I've always heard this was partly

lectrobyte

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Mon Oct-03-05 09:32 AM
Original message

Countries converting to Euros -- I've always heard this was partly

behind the Iraq Invasion, but I'm somewhat skeptical. But now I am seeing articles like this, and all the Venezuala bashing in the news, and I am not so sure.

http://www.vheadline.com/readnews.asp?id=46190

What do you all think? Does anyone have a reference to any good articles on this?

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ret5hd

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Mon Oct-03-05 09:39 AM
Response to Original message

1. it is not the countries converting to euros...

(those in the EU)

it is the oil-producing countries that threaten to start selling their oil in euros (as iraq threatened to do) that the u.s. has a problem with. (because then countries would have less reason to keep their foreign reserves in $'s rather than euros, which would result in a plunging dollar)

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YapiYapo

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Mon Oct-03-05 10:16 AM
Response to Reply #1

2. Iraq were selling oil in Euro

Actually iraq didn't threaten to start selling oil in Euro, they were doing it.

To the OP :

An oil bourse will be created in march 06 in Iran to start selling oil in euro for every OPEP country that are willing to do so.

Must read :

Petrodollar Warfare: Dollars, Euros and the Upcoming Iranian Oil Bourse
http://www.energybulletin.net/7707.html

Killing the dollar in Iran
http://www.atimes.com/atimes/Global_Economy/GH26Dj01.html

The Real Reasons Why Iran is the Next Target:
The Emerging Euro-denominated International Oil Marker
http://globalresearch.ca/articles/CLA410A.html

Iran takes on west's control of oil trading
http://www.guardian.co.uk/business/story/0,3604,1239644,00.html

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lectrobyte

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Mon Oct-03-05 11:00 AM
Response to Reply #2

4. Thanks!

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Bushwick Bill

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Mon Oct-03-05 10:56 AM
Response to Original message

3. Oil Currency Geopolitics: Europe, China, Iran and the United States

While the dollar is still the standard currency for trading international oil sales, in 2006 Iran intends to set up an oil exchange (or bourse) that would facilitate global trading of oil between industrialized and developing countries by pricing sales in the euro, or �petroeuro.�<5> The vast majority of the world�s oil is traded on the New York NYMEX (Mercantile Exchange) and the London IPE (International Petroleum Exchange), both of which are operated by an Atlanta-based U.S. conglomerate. These oil exchanges transact oil trades in the dollar. Tehran�s plan to open an oil exchange that utilized the euro for global oil trades represents a significant obstacle towards stated neoconservative goals of U.S. global domination.
http://peakoil.com/static/editorial/Oil_Currency_Geopolitics.htm

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lectrobyte

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Mon Oct-03-05 11:01 AM
Response to Reply #3

5. Wow. No wonder we are so suddenly worried about those Iranian nukes...

Thanks.

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