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Biotech / Medical : Biotech Valuation

CRSP 56.51

-2.4%

Dec 23 3:59 PM EST

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From: quidditch	5/17/2006 10:16:01 AM
	of 52153

OT: The Decline of the PetroDollar: Many of you have probably seen this, but I'll post the url anyway: english.pravda.ru Iran's oil exchange to trade oil for euros, not dollars Front page / World / Asia 14.05.2006 Source: Pages: 12 On the 5th of May Iran registered its Oil Exchange, which will become the fifth Stock Exchange of its kind in the world. Other exchanges operate in New York, London, Singapore and Tokyo. Which exact companies will be allowed to trade at this Exchange is, like the official opening, still unknown. Yet the Iranian Exchange will be unique, as all trading will be conducted in Euros. On the already functioning Stock Exchanges business is conducted in dollars and, because of this, the specific term ‘petrodollars’ came into use. If the Iranian Petroleum Exchange allows the major oil companies to trade on its floor then the dollar seriously risks losing its position in the world market. This is a possibility that many experts already consider very plausible. [snip] quid

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