I say, fine, let them eat cake, and choke. The poor unfortunate jihadists in Iran have lost hundreds of millions of dollars due to their beligerant and petulant anti-American attitudes. I hope the people of Iran have paid attention. Beyond my deep enjoyment at knowing how much Iran has lost, is knowing that with the sale of the euro, it becomes less likely the Euro will remain useful in 1-2 years. Consider the Euro was the second most widely distributed currency just two years ago. In the last six months, seriosu questions have arisen aas to whether the EU can even stay afloat let alone a unified currency. Result - the selling of the Euro into $ and gold. With every sale, and I don't mean the €30 that sits in my desk drawer, rather, the billions that sit in the Arab drawer or the Persian drawer - anticipating the imminent (2 years ago) collapse of the US dollar. And how did that work out for you. Like dominoes ... Iran followed by every Persian Gulf state ... and even RUSSIA who called for a world currency to battle down the US dollar, is selling 4% of its Euro stockpile (and I anticipate more as the Euro continues to decline). Glad the sale of dollars to Euro worked out so well for you. : )
Quite likely the Euro will be the 3rd most circulated currency in the next few months, and it may simply ... taper off further, which brings us back to Iran. Glad to know your petulant stance has managed one thing - you to lose hundreds of millions of dollars. I am sure you can make that up - BUYING oil from countries who can refine it. Maybe use some of that NUCLEAR energy you so defiantly claimed was a right, to compensate for the fewer barrels of oil you can purchase now that you have HUNDREDS OF MILLIONS less.
Maybe build another nuclear bomb. That will help a lot.
IRAN WILL SELL OFF PART OF ITS EURO SUPPLY
With all the talk a year ago over pricing oil in Euros, this headline sure has me laughing: Iran Selling 45 Billion Euros of Reserves for Dollars
Iran’s central bank began the first phase of the 45 billion-euro ($55 billion) sale of some of its reserves for dollars, the state-run Jaam-e-Jam newspaper reported, citing people it didn’t identify.
The bank is selling 15 billion euros in the first of three stages, which will be completed by Sept. 22, the newspaper reported on its website on May 31.
Iran will “substantially” decrease its oil sales in euros, the paper said. It informed Japan and other crude-oil customers of the change, Jaam-e-Jam said. The Persian Gulf country’s euro reserves are 55 percent of the total, and would be reduced to 20 to 25 percent after the sale is complete and after oil sales in euros have been reduced, the paper said.
Iran’s shift out of euros has been prompted by the single currency’s decline, said Jaam-e-Jam, which is owned by the state broadcaster. Other central banks, including those of the Persian Gulf states, also are selling their euro reserves, it said.
Iran
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