-
mapoui
-
Topic Author
-
Visitor
-
19 Feb 2012 00:41 #76459
by mapoui
alethonews.wordpress.com/2012/02/17/how-iran-changed-the-world/
Shrugging off Dollar Dominance
A British investment research firm wrote in January: “Sanctions on the Central Bank of Iran effectively restricts Iranian oil sales to barter contracts or to state-to-state agreements utilizing non-G8 currencies…It represents a major irritation to the Iranians, rather than a chokehold.â€
The authors specify the Chinese Yuan as the non-G8 currency, but in the past few days that scenario has busted open with the addition of the Indian Rupee into the mix.
The new trade deal inked between Iran and India ensures Rupee payment for 45% of Iranian oil imports, with the balance remaining in Indian banks to pay for exports to the Islamic Republic. This achieves two important things that are an unintended consequence of US sanctions: firstly, it eliminates the Dollar as the trading currency (note that oil prices have traditionally been priced in US Dollars); secondly, it significantly accelerates economic integration between Iran and one of the four largest emerging economies in the world.
Please Log in or Create an account to join the conversation.
-
mapoui
-
Topic Author
-
Visitor
-
-
Forum
-
Political Opinions, Commentaries on Current Issues
-
THE CONVERSATION TREE
-
More reasons Why the NWO Will Not Succeed!
Time to create page: 0.179 seconds