The Crash of the American Economy

[Undertoad]

Originally Posted by Undertoad

Iran can ask for dogshit in return for its oil. Or it can ask for the "Euro", a currency backed by the same thing as the dollar but where the voters just rejected the notion of forming a Constitution around this notion of "Europe". In the end, there will need to be an economy behind what they trade for, or they will be poorer.

This was six years ago. In the end, Iran did create an oil bourse that specifically would not trade in the Dollar. But instead of the decline of the Dollar, voila: the Euro is on its last legs, and people are now buying Dollars and Pounds wondering whether the Euro will survive. The Iranian oil bourse didn't do shit for it.