The Nether-World

December 18, 2006

More Oil Shenanigans

Filed under: Iran, Iraq, US Politics — netherworld @ 9:38 pm

I hadn’t seen this Robert Newman video before. I came across it via a comment from The Morning Star over at Blairwatch in a response to the news that Iran is exchanging the Dollar for the Euro in all transactions and assets held abroad. This news in itself is an interesting and disturbing development, especially if, as implied, this also applies to oil transactions. The last leader to do that was of course, Saddam Hussein and we’ve seen the consequences. Iran has been threatening to do this for over a year now as has Venezuela. If enough countries followed suit it might have serious repercussions for the American economy and maybe ours too although others think this may be a red herring. As I’m not an economist I can’t say for sure what the full implications are (perhaps an economist can shed more light on this). Anyway the video is great… informative and funny.

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