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2 Comments
Fedquipsays...Once you reach the 45 Minute Mark..This Article may interest you.
CBS News - April 30.
Iran Ends Oil Transactions In U.S. Dollars
http://www.cbsnews.com/stories/2008/04/30/business/main4057490.shtml
fissionchipssays...The Petrodollar conspiracy is a weak one, and is not backed by any serious economic argument. At roughly $6 trillion foreign exchange reserves are simply not that large a chunk of global assets (not to mention debts or transactions).
That said, control over oil production probably has a far larger economic and political value than the price of oil would suggest.
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