Wednesday, February 15, 2006

Many nations converting to the Euro

The European unions currency is destined to be the worlds standard. Many countries that are hostile to the US are converting their currency because they dont want the US to have leverage over them by freezing thier assests.

As you are reading this Iran and Syria along with many others are converting all their banking deposits into Euros and away from the US dollar. The reason being stated to hide their funds from the possibility of the US freezing them. But there is a more sinister plot going on behind the scenes. Hal Lindsay hits the nail on the head in this report (see article below).

What Iran is now doing is breaking with OPEC and establishing its own oil exchange called IOB (Iranian Oil Burse). For the first time all of Europe can purchase oil with the Euro instead of the dollar. With Europe as their largest oil customers it will be much easier for them and cheaper, possibly as much as 25% cheaper. This new plan of the Iranians is scheduled to go into effect this March. This will of course boost the Euro and cause a crisis for the US dollar. The bottom line is easy to see, this will destroy the US dollar and the economy.

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