Last Gasp Of The US Dollar? Iran's Bourse Opens Soon

Currently, the world is drowning in dollars, even a small movement could trigger a massive recession in the United States. There's nothing remotely "conspiratorial" about this. It is simply a matter of supply and demand. If the oil bourse creates less demand for the dollar, the value of the dollar will sink accordingly; pushing energy, housing, food and other prices higher. Oil has been linked to the dollar since the 1970s when OPEC agreed to denominate it exclusively in dollars. This provided the US a virtual monopoly which has allowed it to run huge account deficits without fear of crippling interest rate hikes. As Bill O' Grady of A.G.Edwards said, "If OPEC decided they didn't want dollars anymore, it would be the end of American hegemony by signaling the end to the dollar as the sole reserve currency." "If the dollar lost its status as the world's reserve currency, that would force the United States to fund it massive account deficit by running a trade surplus, which would increase inflationary pressures." http://informationclearinghouse.info/article12960.htm

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