Ronald Weinland Iran Prophecy
Tehran – 20th September 2009 Iran’s President Mahmoud Ahmadinejad has ordered the replacement of the US dollar by the euro in the country’s foreign exchange accounts. The September 12 edict was issued following a decision by the trustees of the country’s foreign reserves, Mehr News Agency reported. Earlier, the Islamic Republic of Iran had announced that the euro would replace the greenback in the country’s oil transactions.
Iran has called on other OPEC members to ditch the sinking dollar in favor of the more credible euro. Following the switch, the interest rate for the facilities provided from the Foreign Exchange Reserves will be reduced from 12 to 5 percent. Since being introduced by the European Union, the euro has gained popularity internationally and there are now more euros in circulation than the dollar. The move will also help decouple Iran from the US banking system.
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The stability of the global economy is on very shaky ground, so much so that even a small country like Iran is making threats that can actually help push it over the edge. This week World Net Daily (Feb. 3, 2006) reported on an unusual move from Iran. The global economy is so insecure that something this small could actually start a final domino affect: Beginning in 2003, Iran began demanding oil payment in euros, not dollars, although the oil itself was still priced in U.S. currency.
Ronald Weinland Iran Prophecy
Now, Iran is seriously considering establishing an Iranian Oil Bourse, with the goal of competing with the New York Mercantile Exchange, NYMEX, and London’s International Petroleum Exchange, IPE. Right now, the NYMEX and IPE use three oil “markers” to establish price – West Texas Intermediate crude, Norway Brent crude and the UAE Dubai crude. With the establishment of an Iranian Oil Bourse, Tehran wants to create a fourth oil marker, this one priced in the euro.
On Feb. 3, 2006 about 70 percent of the world’s international foreign currency reserves are held in dollars. If the petroeuro begins to challenge the petrodollar, this percentage could diminish drastically. The Fourth Thunder ! The United States depends on the dollar foreigncurrency reserves in order to sell the Treasury debt that sustains budget deficits. Most Americans are completely unaware of this threat Iran represents to the U.S. economy.
Even China has been hinting at shifting some of its reserves from the dollar to the euro. There is much economic uneasiness in the world today, and this is about to lead into an unprecedented economic upheaval worldwide.
Ronald Weinland Iran Prophecy – Ronald Weinland Iran Prophecy – Ronald Weinland Iran Prophecy – Ronald Weinland Iran Prophecy – Ronald Weinland Iran Prophecy