6 european countries oil imports from Iran cut off

Is mise le key

Breaking news,

Oil cut to 6 european countries

Not good news for already battered economies & peoples buying power of basic goods, william hague has really pushed this one knowing full well the conseqeunces, his manerisms & ideology have thatcherite written all over them.

SEEMagazine

If I sold oil for a living I wouldn't want to deal with countries which were inclined to issue sanctions for spurious reasoning.

Also it's their oil, and they get to do what they want with it. There is no obligation whatsoever to sell their product should they not chose to do so. In theory the loss of income would slow this 'nuclear program' we hear so much about.

Europe can replace the Iranian oil from Russia and from Libya I am quite sure. Or maybe take the time to look at developing green technology. If there's a war in Iran then the entire Middle East will plunge further into der Krapper.

stackerman

If I was in the business of selling oil on a national level, I wouldn't want fiat money now either. That's why these countries such as India and Russia etc are talking of paying in gold.
Funny though, the US don't like this idea one bit.

Even though they have been known to do just that themselves

http://www.coinlink.com/News/gold-silver-bullion/unusual-items-us-mint-gold-disks-made-for-oil-payments-to-saudi-arabia/

World reserve currency soon to end me thinks.

Is mise le key

stackerman wrote: »

If I was in the business of selling oil on a national level, I wouldn't want fiat money now either. That's why these countries such as India and Russia etc are talking of paying in gold.
Funny though, the US don't like this idea one bit.

Even though they have been known to do just that themselves

http://www.coinlink.com/News/gold-silver-bullion/unusual-items-us-mint-gold-disks-made-for-oil-payments-to-saudi-arabia/

World reserve currency soon to end me thinks.

Its a certainty, the day of the dollar is over, russia, india, china & japan have all said a while back they would revert to buying iranian oil in their own curencies, Gaddaffi's (lets not derail this with the moral rights & wrongs of gaddaffi) attempt to unify africa & have one common currency in africa was a real major contributer to his demise as it would have seen internal oil sales in arfrica being traded not using the dollar.

Once Russia & China began buying Iranian oil in their own currency & Chavez subsidising latin american countries with venezuelan oil & building the ALBA block the final nail in the coffin of the US Dollar is not far off,

Interesting article on Haiti debt to venezuela,

http://www.laht.com/article.asp?CategoryId=10717&ArticleId=351054