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luke
Joined: 11 Feb 2007
Location: by the sea
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 Posted: Tue Oct 23, 2007 11:27 pm Post subject: how long until war? ... iran breaks with the US dollar |
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| Quote: | CBI breaks with the US dollar
The Central Bank of Iran says the process of converting the country's dollar reserves to other foreign currencies has been completed.
The process of diversifying Iran's foreign exchange reserves by converting reserves held in dollars to other currencies is almost complete, Fars news agency quoted Tahmasb Mazaheri, President of the Central Bank of Iran, as having told the American publication, The Emerging Market.
He added that the procedure has been carried out in the best possible way and achieved maximum results.
Experts believe Iran has gained huge profits by adopting the measure because of the sharp fall in the value of the US dollar.
Other countries are also said to be taking similar measures for the same reasons. Arab Persian Gulf states, for one, are believed to be holding 30 percent of their foreign exchange reserves in currencies other than the dollar. |
from http://www.presstv.ir/detail.aspx?id=28261§ionid=351020102 |
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major.tom
Macho Business Donkey Wrestler
Joined: 21 Jan 2007
Location: BC, Canada
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| Posted: Wed Oct 24, 2007 12:20 am Post subject: |
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| I thought it would come one day, but am surprised that that day came so soon. It'll be interesting to see how this plays out. |
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faceless
admin
Joined: 25 Apr 2006
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| Posted: Wed Oct 24, 2007 12:25 am Post subject: |
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| I think the news will bolster support for Iran generally. Money talks. |
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Mandy
Joined: 07 Feb 2007
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| Posted: Wed Oct 24, 2007 6:21 am Post subject: |
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| Reading the above, and after seeing the recent dollar fall, makes the Iranians look wise & strong (financially). |
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nico
Joined: 12 Dec 2006
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| Posted: Wed Oct 24, 2007 1:41 pm Post subject: |
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It was bound to come, Chavez is planning to do the same, which means very positive for Euro and the European countries.
If the Arabs do the same, I guess it's goodbye US dominance, which is already happening very insidiously. |
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t.
Joined: 30 Sep 2007
Location: canada
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| Posted: Fri Oct 26, 2007 12:45 am Post subject: |
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| nico wrote: | | If the Arabs do the same, I guess it's goodbye US dominance, which is already happening very insidiously. |
hehe....unfortunately the arabs will not be following in those footsteps any time soon
the saudis were bought long ago in the 70s after the oil crisis when the states realized they could actually be pushed around by some bedouins in the middle of a cold war
the egyptians (read: Mubarak) are currently being paid $2 billion a year
the kuwaitis owe the states their lives after that little war that occurred on their front lawn
the emirates and bahrain are too busy developing their infrastructure to be able to have a decent gdp in 20 years when the oil runs out
yemen, oman, syria....not enough oil to make an impact
although syria might do it just to make a point |
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