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Originally Posted by Elphaba
Jorgelito, what if it isn't about potential nuclear weapons but another more immediate threat? Consider that Iraq intended to switch to petroeuros rather than dollars before the US invasion, and Iran has already set up an international oil trade to be exchanged in petroeuros.
Our government needs to keep it simple for the likes of it's citizens, so the big mushroom cloud will do just fine. We seem to respond to fear mongering quite nicely.
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Citizens don't care if foriegn oil trades in euros, yens or dollars. Exchange rates will determine the price consumers pay. Oil companies and oil producing countries hedge against currency fluctuations. Many people (individuals, hedge funds, corps, governments, warren Buffet, etc) make billions trading currencies and currency futures.
If I controlled a tanker of oil I would sell it using the most profitable currency at the time of the sale. However being less of a risk taker today I would hedge at about $70. But it seems for some reason Iran doesn't want to trade in dollars even if it made them more money depending on market conditions.
Conspiricy Theory Alert - If Iran wants to lock everyone into using any currency but American dollars (limiting his choices needlessly) it indicates that Iran doesn't want to get caught with US dollars - which is another indicator Iran may be preparing for war.