Iran's Pre-Emptive Strike

Gary North / LewRockwell.com:
No, I don't mean its arrest of fifteen British low-rank military people who were taking a boat ride in long-disputed waters dividing Iraq and Iran. That was just a bit of old- fashioned tail-twisting of the British lion, which has been close to toothless ever since 1945. I mean this: Iran is planning to stop using the U.S. dollar to price oil, with less than half of its oil income now paid in the U.S. currency, Iran's central bank governor said. The fact that Iran is now pricing its oil in currencies other than the dollar is reminiscent of Saddam Hussein's similar decision in September, 2000. This was one month after Hugo Chavez met with Hussein in Iraq. He was the first head of state to visit Hussein since the 1991 Gulf War. Oil was then around $30.

Posted by Editor at April 4, 2007 10:47 AM