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Currency Trading: Iran attacks the dollar

Posted February 27, 2008

"You think it’s a coincidence that the Iranians announced this “new bourse” just when the dollar sank to 30-year lows? I definitely don’t. In fact, I’d say they’re only doing this because the dollar is so low. Seriously, if you wanted to sucker punch the buck, then now’s the time to do it." — Sean Hyman

by Sean Hyman

Baltimore – (TFN):  It’s no secret that Iran (and really Russia too) hates our guts here in the United States.

So I guess it’s also not a huge shocker that Iran “conveniently” decided to open up the first Oil, Gas and Petrochemical trading bourse on earth which will trade in “non-U.S. dollar” currencies.

I think we get the point.

As you probably heard, Iran’s Internet lines were cut recently. So there’s no way to tell if this new “non-dollar bourse” is officially up and running just yet.

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However, on January 4th, the Iranian Finance Minister, Davoud Danesh-Jafari told reporters the bourse will open sometime between February 1st and February 11th at the latest. (However, below you’ll see they just pushed this bourse to a bit “later.)

Currency Trading: Sucker punching the dollar

You think it’s a coincidence that the Iranians announced this “new bourse” just when the dollar sank to 30-year lows? I definitely don’t. In fact, I’d say they’re only doing this because the dollar is so low. Seriously, if you wanted to sucker punch the buck, then now’s the time to do it. Read on to learn how Iran is sinking the dollar and whether you should diversify into foreign currency now.

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