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Petrodollar pumping US policy on Iran, backfire looms

As tensions between the US and Iran heat up, author Michael T. Winter
believes the main reason behind America’s harsh stance is Tehran’s move
to seek an alternative to the dollar as an oil currency.
­Economic sanctions, spearheaded by the US and, less willingly, the
EU could have a disastrous effect on both of their respective
economies. If Iran cannot sell their oil to Europe, there are plenty of
customers waiting in the wings, and if they come bearing not
petrodollars, but gold and sovereign currencies, then all the better for
Iran. These sanctions, if enforced, will in effect place a serious
dent in the power of the petrodollar.Any rhetoric regarding
Iran’s nuclear program and the insistence on crippling it is nothing
more than a US attempt to force regime change for one more receptive to
maintaining the hegemony of the petrodollar.The world now knows
the truth ab

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Added: Feb-1-2012 Occurred On: Feb-1-2012
By: 104JebackaBrigada
In:
Iran
Tags: Petrodollar, pumping US, policy on Iran, backfire looms
Location: United States (load item map)
Views: 5830 | Comments: 22 | Votes: 4 | Favorites: 1 | Shared: 20 | Updates: 0 | Times used in channels: 1
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