The Shoe Falls
April 30, 2008
Iran announced today that it would no longer trade its oil in U.S. dollars, instead using a basket of currencies, primarily the euro or the yen. They cited depreciating dollar value on exchanges. President Mahmoud Ahmadinejad last year called the falling dollar a “worthless piece of paper.”
If indeed the U.S. was primarily motivated by strategic concerns centered around oil in invading the Middle East, then this is a serious move on Iran’s part - it literally invites retribution. The next move will be up to Bush/Cheney. Attack? Invade?
Some cynics say that the Bush Administration is waiting on action against Iran until it can be done in such a way as to yield maximum impact on the U.S. elections in November. This cynic says the attack will happen before that time, and for bipartisan reasons, primarily oil.
May 1, 2008 at 7:50 pm
There’s been more than one story recently that would support what you say. Listen closely — you can hear the war drums beating.
May 2, 2008 at 3:48 pm
For deleteing my comment, we are putting you on the Chicken List, Trotsky.
May 2, 2008 at 3:51 pm
There was no comment to delete, but I am glad to fuel your paranoia.