Iran planned to open on March 20, 2006 an international oil exchange in euros negotiated. The opening was postponed to mid 2006. Proponents of this theory believe that this is the main reason why the United States wants to overthrow the Iranian regime and ensure that oil is still up and paying in dollars.
The creation of the Iranian oil stock market would end the petrodollar monopoly in the oil market. There is speculation that the payment in euros instead of dollars would cause a chain reaction in which more and more consumers and producers of oil in euros as comercilizaran, also eventually forcing the United States to pay in euros. This would mean that the United States should do the same as other countries have to do, find ways to obtain foreign currency to pay for oil.
In 2006 the deficit in the United States for petroleum products was 300 billion. While the dollar remains reserve currency and oil will have to pay in dollars, the U.S. can pay by simply printing more releases energy in the form of treasury bonds.
- Party People’s Daily
The Australian Prime Minister Kevin Rudd said on Wednesday the federal budget must be passed in its entirety and called on the Senate to give full support to the government. Referring to the 58 billion dollar budget deficit, which was delivered by Treasurer Wayne Swan Tuesday, Rudd said the government must ensure that its policy to stimulate the economy can be supported with bi-partisan …
- Daily FX via Yahoo! Finance
The two biggest movers in the majors this morning, the Australian and New Zealand dollars. High-flyers for the last few weeks, these currencies have shown they are just as vulnerable to risk appetite is down as when it is rising.
CANBERRA – (Dow Jones) – The Australian government Tuesday for its largest projected budget deficit on record in the A 57.6 billion as they struggle to a rapid decline in revenues due to the global economic crisis while boosting spending to moderate the depth of the recession.