Saturday, December 8, 2007

Iran Drops the US Dollar


Photo from source, AFP

From the "that can't be good" department, further signs of bad news for our economy. I'm not even close to an expert on the subject, so let's just get right to the story. . .

[Excerpt]

Iran drops dollar from oil deals: report

Major crude producer Iran has completely stopped carrying out its oil transactions in dollars, Oil Minister Gholam Hossein Nozari said on Saturday, labelling the greenback an "unreliable" currency.

"At the moment, selling oil in dollars has been completely halted, in line with the policy of selling crude in non-dollar currencies," Nozari was quoted as saying by the ISNA news agency. . .

Read more at: AFP

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