Ok here we go folks....U.S. dollars no longer accepted for Iranian oil

DriftingByTheStorm

jeffbr wrote:

It is not just naive, but fucking crazy to believe that Wall Street doesn't know this. Every brokerage house has massive research departments that scour everthing from news wires, to PR releases, to scientific journals, etc... for their various sectors. It is fantasy to think you've somehow scooped Wall Street.

If this news had simply been the subject of the thread, that would have been great. It was informative and important. But to take it to the next step saying NOBODY KNOWS ABOUT IT, OMG OMG OMG, WE'RE FUCKING DOOMED, WAIT TIL WALL STREET FINDS OUT makes some of us do this: :rolleyes:

So its a conspiracy to keep it from the american public?

Wouldn't the Administration specificaly want to use that point as a reason to acuse Iran of "financial agression"?

Of what consequence is this news to the consumer in real terms? It is not.

So if it is not an attempt to keep wallstreet from worrying about increasing dollar woes, on WHAT grounds is the media blacked out on this !?!

my2hands

mammasan wrote:

Anyone could have seen this coming a mile away. Saddam attempted to do the same back in 2002 and look at what it got him, a fucking noose around his neck. One of the main reasons for our invasion of Iraq was to secure the US dollar as the world's petro currency. Unfortunetly we have an administration headed by a complete cluster fuck of a president and he overplayed his hand and now we are suffering the consequences of his stupidity. Iran will not be the last country to do this. You can bet your ass that Venezuela will soon follow. The Arab sheikdoms will hold out for sometime but as the dollar keeps plummetting they will soon be forced with the decision of switching to the Euro.

Honestly we have no one to blame but ourselves. We believed ourselves infalable and that we where the greatest country in the world. Well in order to stay on top you have to work hard at it and we became complacent and just expected the stay ontop without have to put in the effort. We lag behind in education, standard of living and healthcare compared to other industrialized nations. I mean for god's sake Brazil was able to come up with a sugar based ethenol while we still jonze for petroluem. Not to insult Brazil but I would think that the US is a bit more technologically advanced. We have grown fat and lazy as a country and the rest of the world has caught up and is on the verge of passing us. Leaving us dreaming of the days when we where the top dog and wondering what went wrong.

i totally agree...

at least some of us see it

jeffbr

DriftingByTheStorm wrote:

So its a conspiracy to keep it from the american public?

Wouldn't the Administration specificaly want to use that point as a reason to acuse Iran of "financial agression"?

Of what consequence is this news to the consumer in real terms? It is not.

So if it is not an attempt to keep wallstreet from worrying about increasing dollar woes, on WHAT grounds is the media blacked out on this !?!

There is no conspiracy. The original post contained a story carried on the UPI wire.

Here's a different article, from Dec. 8th, posted on Yahoo!'s news page:
http://news.yahoo.com/s/afp/20071208/ts_afp/iranforexdollaroil_071208115434

It is also not new. A month ago Iran was trying to convince OPEC to drop the dollar. That was carried on networks including FoxNews who you'd think would be part of Bush's conspiracy if it existed: http://www.foxnews.com/story/0,2933,312161,00.html

Like I said - interesting and important information but not something Wall Street hasn't heard about.

DriftingByTheStorm

jeffbr wrote:

There is no conspiracy. The original post contained a story carried on the UPI wire.

Here's a different article, from Dec. 8th, posted on Yahoo!'s news page:
http://news.yahoo.com/s/afp/20071208/ts_afp/iranforexdollaroil_071208115434

It is also not new. A month ago Iran was trying to convince OPEC to drop the dollar. That was carried on networks including FoxNews who you'd think would be part of Bush's conspiracy if it existed: http://www.foxnews.com/story/0,2933,312161,00.html

Like I said - interesting and important information but not something Wall Street hasn't heard about.

So, let me get this straight.

One of the worlds MAJOR oil producing nations 100% goes off the dollar, something unprecedented in modern history, and the ONLY two American sources to run the story are Forbes ONLINE and Yahoo ONLINE?

And you say there is "no conspiracy" or blackout simply because the media ran the story about OPEC CONSIDERING a shift away from the dollar?

ROFL!

Are you fucking serious, Jeff?

NO HARD PRINT OR TV NEWS has covered this story.
Forbes.com and Yahoo.com thats ALL you have?

How much fucking TV does Britney shaving her head get? or [insert whatever retarded story] here ...

Yet, something that is VERY CONSEQUENTIAL TO THE DOLLAR VALUE goes down and the MSM is 100% DEAD QUIET.

All you can offer up to support your claim that it is being covered is yahoo.com which is simply cut and pasting the original news wire which NOONE HAS REPORTED ON (outside of Yahoo and Forbes) here in the US.

SO.
What is your opinion of "COVERAGE"?

Oh heres an example: they have been talking about a .25pt Fed rate cut for TWO MONTHS, it happens yesterday and its on CNBC ALL DAY LONG ... by your logic they shouldn't have even mentioned it, because they already said it would probably happen ???

DriftingByTheStorm

Case in point, Jeff:

CNBC just mentioned a "huge" move in oil prices from 91.8 to 94 and change ...

they spent about 3 minutes on the segment,
and mentioned a host of reasons for this spike:

"unexpected drops in production"
"a refinery fire in [ugh, somewhere in the heartland]"
"the federal reserve announcement causing jitters"
and
"an oil spill in finland (or was it venezuela?)"

Anyhow ...
You don't think they may have found 10 seconds in that segement to mention Iran switching off the dollar?

:rolleyes:

jeffbr

DriftingByTheStorm wrote:

What is your opinion of "COVERAGE"?

My opinion of coverage is that it is shit. That's why I thought Roland's posting of the story was a good thing. I'm certainly not going to defend the mainstream media and which stories get priority. My point remains that this was not a story that scooped Wall Street, and this story is in the mainstream (UPI), it just isn't getting coverage. That is a problem, and highlights one of the issues with mainstream media. But not everything points to a conspiracy. Well, maybe it does if you really try to see one even if it isn't there.

DriftingByTheStorm

jeffbr wrote:

My opinion of coverage is that it is shit. That's why I thought Roland's posting of the story was a good thing. I'm certainly not going to defend the mainstream media and which stories get priority. My point remains that this was not a story that scooped Wall Street, and this story is in the mainstream (UPI), it just isn't getting coverage. That is a problem, and highlights one of the issues with mainstream media. But not everything points to a conspiracy. Well, maybe it does if you really try to see one even if it isn't there.

I'll accept that compromise in your position, and i will concede that there are those on wallstreet who probably have scoured the news wires for this report.

But like middle america, there are also a lot on wallstreet who still HAVE NOT seen the report.

And for that, we can thank the media, who have been complicit in their (apparently new found) "dollar patriotism".

RolandTD20Kdrummer

It's pretty obvious, I mean who wants to hear the bad news twice when there's no good news? This is a type of slow release story kinda like stacking a house of cards...no unnecessary ripples or bumps with this one. Makes sense.

If it was tomorrows front page headline, more people would/could panic than is desirable.

hrd2imgn

Their government is like a bunch of 5 year olds.

Their loss, China will be glad to buy it up and continue to spew pollution all the way to Cali

mammasan

hrd2imgn wrote:

Their government is like a bunch of 5 year olds.

Their loss, China will be glad to buy it up and continue to spew pollution all the way to Cali

I'm sure that animosity towards the US played a role in their decision, but if you look at it from a pure business perspective it makes sense. The US dollar is in rapid decline. The Euro on the other hand is the dominent currency at this point. So why not us the dominent currency out on the market. Also, not that I want to see our economy tank, but if you want to get back at the US this is the perfect way to do it.