Iran gained $5 billion on shift from U.S. dollar
OPS_admin | Nov 26, 2009 | Comments 0
Iran has gained $5 billion through its policy of shifting away from the U.S. currency in favors of the euro, state television reported on Monday, citing Central Bank Governor Mahmoud Bahmani.
Since 2007, Iran has received 85 percent of its oil income in currencies other than the U.S. dollar, Iran’s English-language Press TV reported on its web site.
“Iran has considerably reduced the total of U.S. dollars in its currency basket,” Bahmani said.
Press TV did not give additional detail on how Iran has benefited from reducing the role of the U.S. unit in its transactions.
Iran, the world’s fifth-largest oil exporter, says a weak U.S. currency is eroding its purchasing power. The Islamic state is under U.S. and U.N. sanctions over its disputed nuclear program.
Full Story Iran gained $5 billion on shift from U.S. dollar: state TV – washingtonpost.com.
OPS: Saddam threatened to do this but never actually did it. Well, now we will attack them for sure.
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If we don't change our ways soon...
A new report by the Royal Society, chaired by Nobel prize-winning biologist Sir John Sulston warns that world population must be stabilized and consumption in wealthy nations must be reduced or the entire planet is in big trouble. As the report reads: "The number of people living on the planet has never been higher, their levels of consumption are unprecedented and vast changes are taking place in the environment. We can choose to rebalance the use of resources to a more egalitarian pattern of consumption... or we can choose to do nothing and to drift into a downward spiral of economic and environmental ills leading to a more unequal and inhospitable future."This is the same warning that President Jimmy Carter gave Americans back in the 1970's - but it was ignored when Ronald Reagan came to power with a "more positive" message basically telling Americans we can do whatever we want. And then after 9/11 - Bush told us all we should go shopping and consume ever more.And now with corporations calling the shots in Washington - long-term sustainability of the planet takes a back seat to short-term profits. If we don't change our ways soon - and embrace clean, alternative energy and educate women around the plant - then we all could be headed for a rough century.-Thom(Is there any chance we will learn in time? Tell us here.) -
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