Bye-bye petro-dollar? Iran wants payment in euros for new and outstanding oil sales

U.S. dollar could be headed for the furnace

General view shows a unit of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf

2/7/16 – Reuters reports that Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month’s sanctions relief.

A source at state-owned National Iranian Oil Co (NIOC) told Reuters that Iran will charge in euros for its recently signed oil contracts with firms including French oil and gas major Total, Spanish refiner Cepsa and Litasco, the trading arm of Russia’s Lukoil.

“In our invoices we mention a clause that buyers of our oil will have to pay in euros, considering the exchange rate versus the dollar around the time of delivery,” the NIOC source said.

According to TruNews, Iran has pushed for years to have the euro replace the dollar as the currency for international oil trade. In 2007, Tehran failed to persuade OPEC members to switch away from the dollar, which its then President Mahmoud Ahmadinejad called a “worthless piece of paper”.

 

This could spell big trouble for the U.S. economy.  Many people are unaware or are blissfully ignorant of the fact that the U.S. dollar has been propped up since being taken off the gold standard by petro-dollars, which is the agreement that all crude oil will be purchased in U.S. dollars.  Once nations start refusing to make crude oil purchases in U.S. dollars there will be nothing left to keep the dollar from crashing.

It seems that this will be only the first of many nations who have already been rumbling about going off the U.S. dollar.

It has been reported in recent weeks that banks around the world are beginning to back away from the U.S. dollar.

Add into the mix the fact that the U.S. economy has had the worst start to a year ever recorded and it’s not looking like it’s going to improve much, but does show signs of further fraying.

Also, there has been a strong push toward the cashless system abroad and the push is on in the U.S. as well.

Nobody knows this more that Iran.  They know that pulling the leg out from under the table of the petro-dollar could bring the U.S. to its knees if other countries also head in that direction.

This could be the end of the reign of the dollar, the end of the petro-dollar system, and the end of a world standard using the dollar…which would mean the implosion of the U.S. economy.

Thanks so very much to the ever grateful Iran for thanking our Commander in Chief (the friend to all things Muslim) for giving them such a great deal in their new agreement where they got everything they could want, by sticking it to the U.S.

This is another example of the POTUS making agreements with only one possible objective: to dismantle the U.S.

There’s blood in the water and the sharks have been circling.

Readers, I hope you’ve prepared yourselves physically as much as you possibly can.  It is looking like this could be the year where it all comes crashing down. With the near standstill in global shipping, we could also see real product scarcity in the next few months.

See ShofarBlast video with Harry Dent, 2016 will be the worst year for stocks since the ’30s

See ShofarBlast article, Bank in Norway wants to dump cash; cashless society on the horizon

And it is looking even more likely that the global powers will use war to finish the job and bring us all under a new world order.

Get your emergency supplies ready just in case, and consider getting some precious metals to help insure against losing everything when the inevitable crash does finally occur.

Because, as Christians, we know full well what’s coming, it’s just a matter of time.  The economy will collapse, a one world government will be imposed, and there will severe food scarcity.  You will not be able to buy or sell anything without some kind of mark on your hand or forehead.  And for the first time in history, all of that is now in place, the technology is now in place, for all of it to be rolled out.

“that no one will be able to buy or to sell, except the one who has the mark,”
-Revelation 13:17

One thing we need a whole lot of this year is wisdom, the wisdom that can only be found in the omniscient, loving G_d of the Bible.  Turn to Him, rely on Him and He will see you through whatever comes.

“To God belong wisdom and power; counsel and understanding are his”
-Job 12:13

“Oh, the depth of the riches both of the wisdom and knowledge of God!”
-Romans 11:33

-ShofarChic

http://www.reuters.com/article/us-oil-iran-exclusive-idUSKCN0VE21S

https://www.trunews.com/iran-backs-away-from-petrodollar-wants-oil-sold-in-euro/

http://www.bloombergview.com/articles/2016-01-31/bring-on-the-cashless-future

https://shofarblastblog.com/2016/01/28/harry-dent-2016-will-be-the-worst-year-for-stocks-since-the-30s/

https://shofarblastblog.com/2016/01/27/bank-in-norway-wants-to-dump-cash/

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