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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (66675)7/16/2007 8:23:18 AM
From: Webster Groves  Read Replies (1) of 116555
 
Europe may not take dollars from Iran, at least the banks under US "control", but Japan will certainly take yen. Under normal international trade and banking arrangements. I agree that the currency of trade is not important under trade balanced situations, but under embargo and banking restrictions, it is very important. The point is to put the economic squeeze on Iran. If banking restrictions were irrelevant, then the US would not insist on their use, but they do. Nations with major trade with Iran are less influenced because they need the product. What choice does Japan have, for example ?

wg

PS - I find your claim of "meaningless" in Iran's case because they already had diversified out of dollars not altogether true. Iran continues to avoid dollars, and maintains a trend finding more adherents every day, including our "great friends" in the Gulf states.
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