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To: arun gera who wrote (46638)	2/16/2006 8:52:13 PM
From: LLCF	Respond to of 116555

IMHO the important issue as to the dollar reserves sloshing around the world is not what things are priced in, but what currency reserves are held in. If there is a meaningful move to Euro (or other currencies) or gold away from $US, THEN watch out. Who cares what IRAN does?? When Saudi's, or China, Japan, etc start moving... that is a very meaningful change in the 'conditions' which dictate currency values on the planet. JMO DAK

To: arun gera who wrote (46638)	2/18/2006 11:38:52 AM
From: sea_biscuit	Read Replies (3) \| Respond to of 116555

"Petrodollars and Nuclear Weapons Proliferation: Understanding the Planned Assault on Iran" scoop.co.nz Another article. This time from Down Under. Excerpt : The coming attack on Iran has nothing whatsoever to do with concerns about the proliferation of nuclear weapons. Its primary motive, as oil analyst William Clark has argued, is rather a determination to ensure that the U.S. dollar remains the sole world currency for oil trading. Iran plans in March 2006 to open a Teheran Oil Bourse in which all trading will be carried out in Euros. This poses a direct threat to the status of the U.S. dollar as the principal world reserve currency—and hence also to a trading system in which massive U.S. trade deficits are paid for with paper money whose accepted value resides, as Krassimir Petrov notes, in its being the currency in which international oil trades are denominated. (U.S. dollars are effectively exchangeable for oil in somewhat the same way that, prior to 1971, they were at least in theory exchangeable for gold.)