Iran Ends Dollar Sales of Oil

In a move that Iraq took, just before they were attacked by the US: Iran has completely stopped oil transactions in US dollars. Iran had made plenty of statements to this effect some time ago, working slowly toward that goal, but the actual event has finally come to pass.

This event, I predict, means that a US war against Iran is inevitable. The only thing in the past that has kept the US dollar’s value from dropping to that of Monopoly money, is that it was being used as the default currency for oil trade world wide. Iran’s refusal ushers in the ire of an empire with rapidly devaluating currency, but with a military possessing plenty of functional advanced weaponry.

Why the ire? Because this move may further motivate OPEC to divorce the dollar as well. If all oil trading were to drop use of the once revered “petro-dollar”, it will easily drop to 10% of it’s currently suffering value or worse. All countries dealing with oil trade are upset about their rapid loss of buying power with the dollars they’re holding. Many are dumping them for the Euro already.

If the US doesn’t invade Iran at this point, the risk remains alive. If Iran is taken back to the petro-dollar by force of invasion, then the jittery feelings of nations holding US dollars may be eased and OPEC may be intimidated to remain on the dollar as trade currency. It’s a gamble, but frankly the only bet they can take to keep the country from drowning under the quagmire the Reagan, Bush, Clinton and Bush II administrations have put us in. Reaganomics soundly started our economic collapse and the rest continued the path. No, Clinton never had a real surplus.

Thus, war is the only avenue the US government has at this point to prevent the worst collapse of the US economy - far worse than the “Great Depression” ever was.