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2 posts tagged with oil by rough ashlar.
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oil tied economies - the gift that keeps giving

As many peoples eyes will be elsewhere the readers of the blue may not have seen the red flowing in the streets of Mother Russia. Russia’s two main bourses, RTS and MICEX, said on Wednesday they were suspending trade until further notice. How bad? Russian shares suffered their steepest one-day fall in more than a decade on Tuesday, losing up to 20 per cent, as a sharp slide in oil prices and difficult money market conditions triggered a rush to sell. [more inside]
posted by rough ashlar on Sep 17, 2008 - 67 comments

The Sinking PetroDollar - abandon ship!

Is Hugo Chavez Frias a marked man? What about Gerhard Schroeder or Pooty-Poot? We know that Saddam got Euros for oil. October 31, 2000 The United Nations Sanctions Committee approves an Iraqi request to be paid in Euros, rather than United States dollars, for oil exported under the "oil for food" program, which is part of the sanctions regime stemming from Iraq's 1990 invasion of Kuwait.

Iran has interest in changing to either the new gold dinar or the nifty Euro. Implementation would be in 2005. If you belive Rense.com about The Sunburn (and keep in mind Iran hasn't had over a decade of sanctions to keep its military in check), the float of the PetroDollar may stop once the lighter than water part leaves the Dollar - and the invasion trick won't float (for long) this time.
Anyone scared yet?
posted by rough ashlar on Nov 4, 2004 - 24 comments

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