By insisting on being paid in EUROS for Iranian oil, the country have
crossed a dangerous red line. If the US do bomb Iran, it is precisely for
this reason. It is not the Iranian nuclaer program.
OIL have traditionally been traded in US dollars. With the recent decline
in the value of the US dollars, many OIL ex****ters balked at accepting the
green back as payment. OPEC members have been grumbling for quite a while
now, but none of them dare to do more. After Iran, Venezuela may be the
next ex****ter to insist on other currencies other than the dollar.
The nett impact is that the US dollar will slide down faster as its
usefullness as a currency is no longer of any value.
