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Tuesday, January 17, 2006 

Iran Oil Bourse will accelerate the fall of the American Empire

Very nice article that goes hand in hand with "Empire of Debt" - talks about the reasons for going into Iraq and how it relates to the US economy. Great Stuff.
The Proposed Iranian Oil Bourse by Krassimir Petrov
..The Iranian government has finally developed the ultimate “nuclear” weapon that can swiftly destroy the financial system underpinning the American Empire. That weapon is the Iranian Oil Bourse slated to open in March 2006. It will be based on a euro-oil-trading mechanism that naturally implies payment for oil in Euro. In economic terms, this represents a much greater threat to the hegemony of the dollar than Saddam’s, because it will allow anyone willing either to buy or to sell oil for Euro to transact on the exchange, thus circumventing the U.S. dollar altogether. If so, then it is likely that almost everyone will eagerly adopt this euro oil system: the Europeans..., The Chinese..., The Japanese..., The Russians..., and the Arab nations...
Only the British will find themselves between a rock and a hard place.
Check it out at: The Energy Bulletin.
Also read CSMonitors less dramatic take on it - "Iran's Oil Gambit".

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In economic terms, an Iranian Oil Bourse represents a much greater threat to the U.S. than an Iranian nuclear first strike!

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