The Iran oil bourse.. A new duer in need of perspective.

[Klukie]

I really need some help with the Iranian oil bourse issue. I kept noticing this mentioned in various threads and had no idea what it was so I decided to google it. I came across an article http://www.energybulletin.net/12125.html that really scared the crap out of me. I am pretty new to all things political so I would really appreciate some feedback on this. What I got out of this article is that if the Iranians proceed with their plans for a Oil bourse the dollar is pretty much done for and our country is in for a depression. As a mother of two young children, I am so fearful after reading this. I keep getting images of my babies crying because they are hungry and I have nothing to feed them. In other words I am freaking out here. Any thoughts or words to help put it into perspective would be most welcome.

[SmokingJacket]

1. I read that article too, but my understanding is that the results of

the Iranian bourse are very much up in the air. Some economists think that the trade in euros will have a big effect on the US economy, and some aren't so sure.

The last I read, it wasn't even certain that they WOULD trade in euros. (Though you'd think they'd have decided by now... maybe someone has more recent information.)

[Klukie]

4. Thanks for the info.

Looks like this thread is sinking fast. Are you aware of any threads that discussed this in length. I am not that computer savy and I'm not quite sure how to access stuff.

[ProfessorGAC]

11. I'm One Of The Latter

I see it as much ado about nothing with no history or theory to support the concern that a shift in currency for a commodity is a antecedent to economic change.

And, as keep telling folks here at DU: The neocons believe in the bourse threat. If they believe it, i'll bet a paycheck they're wrong.
The Professor

[hadrons]

2. "Oil bourse the dollar is pretty much done " ....

it may not happen immediately ... I mean, buyers would have to have faith in the Iranian oil bourse (how will disputes be handled, will they be handled in good faith ... they're the only seller.) Also, a lot of countries have a great deal of interest in keeping the dollar fairly strong (not out of the kindness of their hearts, but for access to our markets)

And you can count of Dumbya to twist arms for other countries NOT to do business with the Iranians directly (although Iran will probably be able to strong arm some of the smaller Asian nations that need Iranian oil to get involved)

Once its established as a fair place to buy, then watch out

[underpants]

5. That's true but they are still going to use the nukes as an excuse

to put the clamps on this.

[phantom power]

3. Your perspective is fine. It would be bad news for our economy.

America is running enormous deficits at both the federal and state levels. At the level of individual citizens, our national savings is negative: we are (on average) all in debt. We're also running a record trade deficit. The dollar is a weak currency, that is for the moment propped up by the fact that every other nation on earth has to keep a lot of dollars around, to buy their oil with.

[thunder35]

6. Bush is insane if he attacks Iran

they have the right to do what they want to within their borders.

[RufusEarl]

7. Try this link

I've seen better stories on this subject but couldn't locate then, hope this helps. If not do a search here on DU, they have several links that may be of help.


http://www.atimes.com/atimes/Global_Economy/GH26Dj01.html

[Klukie]

9. Thanks for the link.

How do you do a search?

[RufusEarl]

13. Search,

I noticed you didn't have a little star by your name. That means you're not a member of DU, you have to be a member to use the search engine.

If you find DU a useful tool, then i would suggest you join. It's not that expansive, and well worth the money to help keep this site up and running.

[Klukie]

14. I will be joining...

I will be moving in the next few days and I wanted to get new internet and everything established first. I definately find this site useful. It has opened my eyes on many issues.

[RufusEarl]

16. Agreed, very useful.

If your politics are progressive, then i don't think you'll find a better venue on the internet. Besides having a wealth of information, I've found most Duer's here are good people.

[meganmonkey]

8. Don't freak out

but it probably is that bad. I wish I had happy news for you. Just think of it as payback for the cheap oil our country has been wasting for decades.

Peace!

[leeroysphitz]

10. Cold comfort, VERY cold... nt

[meganmonkey]

12. Honestly, for me, the coldest thing in the world

is not knowing the truth. Because if you don't know the truth, you can't do anything.

We need to face what our country has done, what it has become, and how we fit with the rest of the world now as other nations have moved ahead.

I am not a defeatist or anything, I think we get empowered by the truth.

Peace.

[Bushwick Bill]

15. Multiple links here

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=364x480231#480791