Iran Says Bye-Bye to the Dollar

Or, is it another silly sound byte to frighten the skittish sheople?

"Tom Wallin of the publishing company, Energy Intelligence, says the long-term oil contracts Iran sells for euros and yen are actually pegged to the dollar. That's because all oil sold on short-term spot markets is still priced in dollars, and those markets influence how Iran and other countries set long-term prices.

WALLIN: They could insist that they get paid in euros or in yen or some other currency, but they're always going to be in a dollar starting point. It's more symbolic, I think than, you know, having much real commercial or financial impact. Wallin says Iran's leaders want to show local audiences they're standing up to the U.S. Still, given the greenback's falling value, Martin Baily at the Brookings Institution expects oil exporters, like Russia or Mexico, to start using other currencies." (Remember though, stink tanks have their own agendas.)

Clownish Chavez "... predicted that the US empire will collapse just like its currency has. "God willing, with the fall of the dollar, the deviant US imperialism will fall as soon as possible too," Chavez said after a two-hour closed meeting with his Iranian counterpart on Monday, according to Iran's IRNA news agency."

(Remember folks, IRNA and aljazeera are as trustworthy, fair and balanced, trusted names in news, like our own NYT, Wapo, CNN, Fox, etc.)

Surely Chavez and Ahmadinejad are not stupid – or maybe they are, and are reading a talk-tough-to-empire script, as the remainder of OPEC nations are not abandoning the dollar. Surely this Cha and Ahmad act know the global economy will collapse if the US$ collapses. "The US empire is coming down," Chavez told Venezuelan TV, saying the euro was a better option and that Latin American nations were also considering a common currency."

Latin American leftists over the years have always considered uniting, a Latin Union, a common currency – similar to the euro, but, largely due to US and European meddling and plundering, Latin American nations never seem to unite long enough to bring it about. Global investment in Latin America, whether from Asia or Europe, is still tied to the US dollar. Notice the spanking China has taken recently with contaminated toys – American buyers reminding the Chinese Politburo that the US consumer, for the moment, is still Beijing's lifeline to development. I might fear for the health of the US dollar when millions of Hispanics working in the US begin remitting that $45 billion a year home in euro and yen or yaun instead of greenbacks.

The standard of living is being lowered for Americans with a real squeeze on the middle - but hellfire that began in earnest under Ronnie Reagan.

Dominoes. If the dollar collapses at this point, less oil demand, oil price drop, investments dwindle, consumers purchase less, India and China and Hugo and Ahmadinejad and Russia and the EU lose as much or more than the US - as the global economy is still pegged to the US dollar. But possible change is in the air. Iran's largest trade partner is the EU. And, the EU recently replaced the US as China's largest trade partner.

Some folks might ask if the European Union (pretty much all Anglo, all 27 countries of 'em) is out to become the next and sole super power, lowering the living standards of any global middle class left standing, and introducing that globodollar to the peonage.

At any rate, here's hoping Hugo, that after the Empire of the US comes down it will not be replaced with an EU, Latin, Asian, or Chinese Empire – but with one big happy world family where all leaders of humanity are created without greed, none needing an enemy to justify coveting their neighbors' goods, humble men and women wise beyond measure. Superleaders come to save the little people. (Hasn't this been done before?)