Comments on: Commentary: DailyKos on the Iranian Bourse, Oil, Euro and Dollars http://www.strategyunit.net/2006/02/commentary-dailykos-on-the-iranian-bourse-oil-euro-and-dollars/ Sun, 22 Apr 2007 14:28:14 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Robert Haenggi http://www.strategyunit.net/2006/02/commentary-dailykos-on-the-iranian-bourse-oil-euro-and-dollars/comment-page-1/#comment-12 Robert Haenggi Sun, 02 Jul 2006 11:47:08 +0000 http://www.strategyunit.net/2006/02/commentary-dailykos-on-the-iranian-bourse-oil-euro-and-dollars/#comment-12 <p>I’ve read Jerome Paris’ case against the possible formation of an Iranian oil bourse. I agree that Iran faces many imposing challenges. I’m puzzled by one statement, and wonder if someone could clarify:</p> <p>Given that oil will still have its market price determined in dollars. OK, I understand.</p> <p>But why is it assumed that actual dollars will be converted to Euros? Couldn’t I bypass the $USD if I were a Mexican buyer converting Pesos to Euros? </p> I’ve read Jerome Paris’ case against the possible formation of an Iranian oil bourse. I agree that Iran faces many imposing challenges. I’m puzzled by one statement, and wonder if someone could clarify:

Given that oil will still have its market price determined in dollars. OK, I understand.

But why is it assumed that actual dollars will be converted to Euros? Couldn’t I bypass the $USD if I were a Mexican buyer converting Pesos to Euros?

]]> By: Jim http://www.strategyunit.net/2006/02/commentary-dailykos-on-the-iranian-bourse-oil-euro-and-dollars/comment-page-1/#comment-13 Jim Tue, 30 May 2006 10:19:11 +0000 http://www.strategyunit.net/2006/02/commentary-dailykos-on-the-iranian-bourse-oil-euro-and-dollars/#comment-13 <p>From <a href="http://home.austarnet.com.au/davekimble/peakoil/petrodollars.htm" rel="nofollow">here</a>, “<i>In his annual State of the Nation address to both houses of parliament on 10 May 2006, Novosti reports President Putin said that work on making the Rouble an internationally convertible currency would be completed by 1 July 2006, six months ahead of schedule. To promote the currency, he announced that an oil and gas stock exchange will be created in Russia, that would trade in Roubles.</i></p> <p>And there is also <a href="http://news.bbc.co.uk/1/hi/business/4990302.stm" rel="nofollow">this report from the BBC</a>:<br /> <b>Venezuela ‘may swap oil currency’ </b>.</p> <p>Something has got to give - the US cannot go on militarily bullying the rest of the world.</p> <p>President Chavez has big plans for Venezuela’s oil industry<br /> Venezuela has hinted it could price its oil exports in euros rather than US dollars, further weakening its links to the US.<br /> President Hugo Chavez said he was considering taking the step following a similar declaration by Iran. </p> From here, “In his annual State of the Nation address to both houses of parliament on 10 May 2006, Novosti reports President Putin said that work on making the Rouble an internationally convertible currency would be completed by 1 July 2006, six months ahead of schedule. To promote the currency, he announced that an oil and gas stock exchange will be created in Russia, that would trade in Roubles.

And there is also this report from the BBC:
Venezuela ‘may swap oil currency’ .

Something has got to give – the US cannot go on militarily bullying the rest of the world.

President Chavez has big plans for Venezuela’s oil industry
Venezuela has hinted it could price its oil exports in euros rather than US dollars, further weakening its links to the US.
President Hugo Chavez said he was considering taking the step following a similar declaration by Iran.

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