If This Happens, Oil Prices Will Go Lower Than $20
Iran no longer has sanctions restraining its oil production and it is free to do business with Western countries. Iran also has the freedom to impose its conditions. Given that Europe has become its biggest trading partner, it comes as no surprise that it wants buyers to pay in euros rather than U.S. dollars for its oil. The decision adds to international tensions and has placed considerable additional pressure on oil prices. Iran is a Saudi Arabia and U.S. rival on the ground in the Syrian civil war and other geopolitical situations.
Iran’s goal is not only to increase production, but it’s also to slash its reliance on U.S. dollars, as reported by Reuters. Iranian government sources urge buyers to pay in euros, considering the exchange rate between the euro and dollar upon delivery. Iran simply wants to ease its own reliance on the U.S. currency. (Source: “Exclusive: Iran wants euro payment for new and outstanding oil sales,” Reuters, February 8, 2016.) The same source mentions Iranian authorities want to convert to euro frozen financial assets because of sanctions. In U.S. currency value, this is equivalent to about $100 billion.
Tehran has already discussed “billing” in euros in contracts with France’s Total SA, Spain’s CEPSA, and Litasco. Essentially, Iran wants to punish the United States for imposing years of economic tyranny by de-dollarizing the oil trade. This is happening while the petrodollar is under tremendous pressure. Russia and China are already defining oil sales in yuan and the petrodollar recycling system is in crisis.
Iran Wants to Trigger the End of the “Petrodollar”
If other manufacturers were to move away from the dollar as they did Russia and Iran, another instrument of U.S. hegemony would be lost. For decades, the use of the dollar to pay for oil and other raw materials has ensured a stable international demand for this currency. This has helped to support the exchange rate against rival currencies and against a negative balance of trade. In other words, the petrodollar mechanism has helped finance the United States’ external deficit. The demise of the petrodollar is a threat to the U.S. economy itself.
Read Full Article On Profit Confidential
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,708,647,295 |
| Stories: | 8,450,881 |
Whistler Blowers, Insiders
