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Page added on March 5, 2018
Iran bans US dollar
The government of Iran imposed new restrictions on the use of the US dollar in the country. The use of the US dollar for import operations in the Islamic Republic of Iran has been banned from February 28, Forbes reports with reference to Iranian media.
Starting from February 28, any supply orders or other import declarations where US dollars are used will not be processed by the Iranian customs authorities.
According to Mehdi Kasraipur, the director of Foreign Exchange Operations and Policy Department of the Central Bank of Iran, the new rules should not affect current trading operations much, given that the use of the American currency in Iran was already limited. Iranian banks could not conduct operations in US dollars because of US sanctions.
“Given that the use of the dollar in Iran is already prohibited, traders use alternative currencies in their transactions. Therefore, there is no longer any reason to quote prices in dollars in invoices,” the official said.
It is worthy of note that the Iranian national currency, the rial, has dropped vs. the US dollar by eight percent this year. Specialists believe that most of Iran’s foreign trade transactions will be carried out in euros.
176 Comments on "Iran bans US dollar"
Davy on Mon, 5th Mar 2018 6:35 am
Sure, the dollar will just go to the black market. The profit motive always wins out over official policy. IOW, this is a hypeburger
GregT on Mon, 5th Mar 2018 11:48 am
It is in all of humanity’s best interest, if the ‘Creature from Jekyll Island’ bleeds out quickly, and peacefully.
Cloggie on Mon, 5th Mar 2018 11:54 am
Specialists believe that most of Iran’s foreign trade transactions will be carried out in euros.
Nothing to worry about Davy, just walk on, nothing to be seen.
In another blow to the multicult intentions of the US empire, the Italian electorate voted massively for the populist Right (66%) and against massimmigration and multicult. The Italians gave the finger to the US vassal establishment. Good riddance to them.
https://www.telegraph.co.uk/news/2018/03/04/italian-election-country-goes-polls-latest-news-results-forecast/
It looks like the US will become a third world country all by itself, because election results like in Italy will never again be possible in the US. Trump simply was the last representative of European American. After him it will be Democrat rule for ever, with whitey paying all the bills. Ready for president Faceberg, America?
Expect the outcome of the Italians elections to send shockwaves deep into Europe. Europe is rapidly drifting to the Right. We have enough of the third world invasion and the prospect of our civilization becoming extinct. Declaration of independence from the ZOG-US empire isn’t very far away.
Oh and the wine must have tasted excellent in the Kremlin last night!
https://www.washingtonpost.com/news/worldviews/wp/2015/07/24/silvio-berlusconi-and-vladimir-putin-the-political-bromance-that-endured/?utm_term=.77c212171396
MASTERMIND on Mon, 5th Mar 2018 12:09 pm
Greg
You have gone full circle tin foil hat! the creature from Jekyll Island…LOL
Cloggie on Mon, 5th Mar 2018 12:10 pm
No danger that European unity will be abandoned after the Italian elections:
https://www.rt.com/news/420480-italy-lega-people-bureaucracy/
Europe should be rebuilt around people, not bureaucracy, said Matteo Salvini, the leader of the Euroskeptic Lega Nord party, after the group made considerable gains in the country’s general election…
None of the three parties want to abandon the euro, let alone leave the EU, despite having severe criticism against Brussels. Italy is a major force for a Europe of the Fatherlands and a rapid improvement of relations with Russia. Until recently the Five Star movement wanted to abandon NATO, not sure what their position is now.
Cloggie on Mon, 5th Mar 2018 12:12 pm
Greg
You have gone full circle tin foil hat! the creature from Jekyll Island…LOL
https://www.youtube.com/watch?v=lu_VqX6J93k
https://www.youtube.com/watch?v=Ul3Iyq1i_30
MASTERMIND on Mon, 5th Mar 2018 12:12 pm
Clogg stop spamming this site with your alt right neck beard propaganda.. Nobody gives a shit because everyone here has read the dozens of high quality sources I have provided and knows the global civilization is going to crash and burn soon.
MASTERMIND on Mon, 5th Mar 2018 12:13 pm
IEA warns of oil supply crunch after 2020 -Financial Times
https://www.ft.com/content/e424c4b0-204a-11e8-a895-1ba1f72c2c11
IEA: Russia’s oil output to reach its peak in 2020
http://vestnikkavkaza.net/news/IEA-Russia%E2%80%99s-oil-output-to-reach-its-peak-in-2020.html
GregT on Mon, 5th Mar 2018 12:34 pm
Both of those links do not come to the same conclusions as you have MM. As per usual.
Davy on Mon, 5th Mar 2018 12:34 pm
Neder, you are hilarious how you spin news. Any news is made to supports your extreme positions. Your history revisions likewise. Everything is molded to reflect a fantasy future of European greatness. Ever wonder why you are the only one here who believes in your fantasies? I imagine you think the more dope you dump the more real all these fantasies are.
GregT on Mon, 5th Mar 2018 12:39 pm
Get yourself up to speed MM.
https://www.goodreads.com/book/show/66499.The_Creature_from_Jekyll_Island
Cloggie on Mon, 5th Mar 2018 12:41 pm
IEA warns of oil supply crunch after 2020 -Financial Times
https://www.ft.com/content/e424c4b0-204a-11e8-a895-1ba1f72c2c11
Empty link.
IEA: Russia’s oil output to reach its peak in 2020
http://vestnikkavkaza.net/news/IEA-Russia%E2%80%99s-oil-output-to-reach-its-peak-in-2020.html
The article says something entirely different:
“Russia’s oil and gas condensate production will grow in the next few years, peak in the early 2020s and then begin to fall due to the sanctions and the industry’s taxation scheme, the International Energy Agency (IEA) said in an oil market report.”
You are a fraud and a liar, millimind.
GregT on Mon, 5th Mar 2018 12:46 pm
“Neder, you are hilarious how you spin news. Any news is made to supports your extreme positions. Your history revisions likewise. Everything is molded to reflect a fantasy future of European greatness. Ever wonder why you are the only one here who believes in your fantasies? I imagine you think the more dope you dump the more real all these fantasies are.”
Rebuttal? Or simply more of the usual name calling, childish rhetoric, and delusional accusations?
bobinget on Mon, 5th Mar 2018 12:47 pm
This is huge!
Losing ‘Reserve Currency’ status is no giggle.
We buy no crude ‘directly’ from Iran one of the world’s biggest contributors. (In time, Venezuela will exceed Iran’s exports)
From ‘Foreign Policy’;
Sometime soon, after the close of the Chinese New Year, officials in Shanghai will flip the switch and start trading in an arcane new financial product — one that could presage a huge shift in global energy markets and advance China’s quest to play a bigger role in the global economy.
“After years of false starts, a long-awaited Chinese oil futures contract will make its debut on the Shanghai Futures Exchange, likely in late March. It will be the first crude oil benchmark in Asia, which is important because that’s where oil consumption is growing the most. And it will be the first contract priced in Chinese currency, known as the renminbi or yuan. Currently, the main global benchmarks for crude oil are in New York and London — and priced in dollars”.
http://foreignpolicy.com/2018/01/18/chinas-bid-upend-global-oil-market-petroyuan-shanghai/
To counter this dramatic turn, IEA publishes BS;
Totally denying mature field depletion (GOM etc) IEA is saying the US will be the world’s biggest oil
provider in five years.
Utter nonsense.
GregT on Mon, 5th Mar 2018 12:49 pm
“Empty link.”
You have to be a subscriber, which MM obviously is not.
IEA warns of oil supply crunch after 2020
“The IEA estimates that without sufficient spending on the supply side of the oil industry, spare capacity will drop to just over 2% of demand; the lowest proportion since 2007.”
“However, it said “it is not too late to avert a [oil] supply crunch, provided companies start to sanction development work without delay”.
bobinget on Mon, 5th Mar 2018 1:00 pm
March 25th
https://www.bloomberg.com/news/articles/2018-02-09/china-ends-25-year-wait-as-yuan-oil-futures-set-to-start-trading
I’ve said dozens of times here China has paved the way to gobble up ALL the planet’s oil exports.
You can believe that rash statement or not.
Here’s what you will have to believe sooner or later. China’s (oil, gold, wheat, copper etc.) futures trading will be based in yuan. In fact, China’s “petro yuan” is backed by Gold. Lots-a- gold.
bobinget on Mon, 5th Mar 2018 1:05 pm
Today’s stealth rally: Should oil prices sustain $70 /$80 trading, will encourage ‘development’ sooner.
GregT
MASTERMIND on Mon, 5th Mar 2018 1:06 pm
Greg
Yes I am a subscriber. Here is the article. Next time just ask.
The US will dominate oil production growth over the next two years, keeping the market well supplied, but a crunch could loom after 2020 if investment into future global output fails to keep up with rising consumption, the International Energy Agency said.
Crude prices above $60 a barrel, prompted by robust world demand for oil and output cuts from global producers led by Opec and Russia, have spurred a second wave of production growth from US shale companies.
These producers, which are more efficient than before the oil market crash in 2014, will help US output grow by 3.7m barrels a day by 2023 — more than half of the world’s total growth, the Paris-based body said in its five-year oil market outlook.
The report, published on Monday, coincided with the start of the annual CERAWeek oil industry gathering in Houston.
The agency revised higher its US output estimates by more than 2m b/d compared with last year’s report. The US, together with Brazil, Canada and Norway, will ensure supply growth meets rising consumption over the next two years with total supply outside of the Opec cartel expected to reach 63.3m b/d in 2023.
But the IEA said a pullback in spending on exploration and production since the price crash could be “storing up trouble”. A recovery in investment has “barely started” and the world is at risk of a shortage in extra production capacity.
“Upstream investment may be inadequate to avoid a significant squeezing of the global spare capacity cushion by 2023,” the IEA said. “With global demand rising steadily, the response from the supply side is crucial.”
The ability to produce additional barrels in the event of a supply shock is important and without sufficient spending, the amount of extra capacity on hand could drop to just over 2 per cent of demand — the lowest since 2007.
For decades the world has relied on Opec countries, particularly the cartel’s de facto leader Saudi Arabia, to provide this security. The kingdom hold’s the largest share of the world’s spare capacity at more than 2m b/d.
“This emphasises the crucial role Opec’s largest producer continues to play in providing stability to global oil markets,” the IEA said.
Opinion: Venezuela is the one to watch on oil Commodities Note: Reports of oil demand’s death exaggerated Fundamentals do not matter to new breed of oil speculator The report comes as the industry debates whether a more resilient US oil industry will be able to deliver production growth robust enough to meet rising demand in the coming years, keeping a ceiling on prices.
The US is expected to surpass Saudi Arabia and could rival Russia as the world’s biggest producer, disrupting an oil order in place for decades.
But the IEA said US oil alone would not be enough and the amount of oil required from Opec producers was expected to rise to 34.1m b/d, up from 32.3m b/d in 2018.
Every year the world must replace another 3m b/d of production, which is lost because of declining output rates from mature fields. It also must meet demand growth driven by an expanding global economy led by India and China.
The agency says that a peak in total oil demand is not in sight, but growth may slow to 1m b/d by 2023 from 1.4m b/d this year. Total demand is forecast at 104.7m b/d in 2023.
MASTERMIND on Mon, 5th Mar 2018 1:08 pm
Clog
How I am I liar? I just posted the article? LOL Russia is going down! the Soviet Union collapsed due to peak oil! Bye bye Putin!
MASTERMIND on Mon, 5th Mar 2018 1:10 pm
Greg
It has nothing to do with lack of investment. Its because we have been consuming more oil than we discover for 34 years straight! This is madness! What happens when you drain your savings account to pay your bills for 30 plus years?
Davy on Mon, 5th Mar 2018 1:11 pm
Greggie, what I said stands. What you said is just support for a fellow Nazi. Birds of a feather flock together. IOW your pricking is home team support and doesn’t mean anything to me. You are likewise an extremist that enables and supports extremist spin. You are generally unable to say much so you find it easier to just stalk, prick, and enable instead of authentic commenting that shows intelligence. Like your cousin the weasel your mission is anti-American stalking and pricking. Your pal nedernazi is a rabid anti-American so your support of him is little more than pandering.
MASTERMIND on Mon, 5th Mar 2018 1:12 pm
Greg
We have a natural gas supply shortage to go along with the oil! Make that doom burger a double!
Shell forecasts global Natural Gas supply shortage in mid-2020s
https://www.cnbc.com/2018/02/26/shell-warns-of-lng-shortage-as-demand-for-liquefied-natural-gas-booms.html
fmr-paultard on Mon, 5th Mar 2018 1:16 pm
i’m a tard i do basic research.
i proved conclusively that UFO, cattle mutilations are a product of the folsky brain and supertard would not investigate this stupidty in any manner because scientific process can not be applied to it. i filed this folder under “unusual phenomenon” next to the box labeled “permacutism”.
i have made a new breakthrough in understanding religion. i’m a constantinean catholic.
i relized that the old testament god was nasty so the response was Islam which was even more nasty.
The new testament is a lot better. I like a loving god and especially get misty if I come across Luke 22:36
This is a very significant understanding of religions. I file this under “esotetic”
fmr-paultard on Mon, 5th Mar 2018 1:24 pm
the eurotard is ignorant of himself. he also lives his life through ethnic identity but find it interesting to spend time with my supertards. i have tried many times that my supertards created intardweb for me to enjoy. before i heard president paul fighting for liberty, i knew of supertard ((richard stallmann)) fighting for the liberty to create open sourced software that this web site is most likely to operate based on it.
the eurotard runs across the coutnry and tinker with his exercise “high” then channel all the energy into recruiting my supertards.
he’s ignorant that supertards have no interest in his pet topics. 20-30 years ago China initiated a supertard project by lifting supertard potential students into accelerated programs. this something we US always do and supertards have no time for eurotard’s vision.
I want safe electricity and if you ever watched “good fellas” you knwo the wife is fighting for her husband. I fight for my supertard to be my own. and i urge bumpski those who want to recruit. this demonstrates my strong willingless to retain supertards in tehir natural environment in america.
make no mistake, if supertards block google from china and russia and let it stew for 10 years, will will come out on top.
fmr-paultard on Mon, 5th Mar 2018 3:10 pm
unfortunately basic research results means i’m not closer to understanding what this is all about. certainly not the big bang either. sucks
Cloggie on Mon, 5th Mar 2018 3:14 pm
This is huge!
Losing ‘Reserve Currency’ status is no giggle.
Indeed, effectively 35-40% GDP.
Below Italy.
Think Cyprus, Israel, Slovakia, that region.
GregT on Mon, 5th Mar 2018 3:35 pm
“Like your cousin the weasel your mission is anti-American stalking and pricking.”
I don’t give a flying ‘F’ which tax farm you were born into. You could be Chinese for all I care.
It wouldn’t make you any less of a fruitcake.
Cloggie on Mon, 5th Mar 2018 3:36 pm
What you said is just support for a fellow Nazi.
Yesterday the self-styled forum Simon Weaseltal got his fat ass kicked to the tune that it must be still feel glowing red hot. For some good laughs for seeing the prick from Missouri totally cornered and humiliated to the core, read here:
http://peakoil.com/enviroment/paul-ehrlichs-epic-fail-why-the-population-bomb-never-exploded/comment-page-1#comment-449275
(I have the link stored for future reference and easy insertion).
I have made it clear that it was the US that was fully to blame for WW2 and the “Great Thinker from the Ozarks” had absolutely nothing to say against it, like he hasn’t for a year or more now.
Yet every time again he comes out of the woodwork shortly after he has yet again received a beating and repeats his sniping tactics as if nothing has happened.
I think I’m going to call him “Meathead” from now on, after the leftist Polak from “All in the family”. Meathead might have voted for Trump in November 2016, but since then he morphed in an absolute “social justice warrior”-type riding the “Nazi-meme” like a drunken student rides a pinball-machine, because he can’t find anything better for the night.
http://vignette3.wikia.nocookie.net/all-in-the-family-tv-show/images/c/c7/AllFamilyMeathead.jpg/revision/latest?cb=20121109202456
GregT on Mon, 5th Mar 2018 3:55 pm
MM,
“Shell forecasts global Natural Gas supply shortage in mid-2020s”
In reality, the article is titled:
“Shell warns of liquefied natural gas shortage as LNG demand blows past expectations”
https://www.cnbc.com/2018/02/26/shell-warns-of-lng-shortage-as-demand-for-liquefied-natural-gas-booms.html
As per usual, this will be a positive for net LNG exporters.
MASTERMIND on Mon, 5th Mar 2018 4:07 pm
Greg
In reality he says! You are such a pussy you are going to get smoked once those stores run out of food!
Davy on Mon, 5th Mar 2018 4:11 pm
Greggie you and the weasel stalk and prick Americans exclusively making your tax farm point more of your usual BS. At lease the weasel is honest. You are a slimy liar. Admit you are an anti-American prick.
MASTERMIND on Mon, 5th Mar 2018 4:13 pm
Greg
Shell warns about global LNG shortage in mid-2020s
https://www.theglobeandmail.com/report-on-business/shell-warns-about-global-lng-shortage-in-mid-2020s/article38124054/
The globe and mail! Silly name for a newspaper! but that is just how the stupid Canadians are! LOL
GregT on Mon, 5th Mar 2018 4:19 pm
https://www.theglobeandmail.com/report-on-business/shell-warns-about-global-lng-shortage-in-mid-2020s/article38124054/
“The prospect of the world’s LNG market going from a glut of supplies last year to a shortage in 2024 opens a window of opportunity for Shell, which owns 50 per cent of the LNG Canada joint venture planned for Kitimat in northern British Columbia. If the consortium decides to forge ahead in late 2018, construction would be completed in late 2023 – in time to meet the expected need for fresh supplies.”
GregT on Mon, 5th Mar 2018 4:22 pm
“Greggie you and the weasel stalk and prick Americans exclusively making your tax farm point more of your usual BS.”
It makes no difference to me whether you are an American or not. Your emotional and psychological issues are not exclusively an American problem.
GregT on Mon, 5th Mar 2018 4:31 pm
“The globe and mail! Silly name for a newspaper! but that is just how the stupid Canadians are! LOL”
Amazing how the stupid Canadians came up with such a stupid name for a newspaper. What were they thinking?
GregT on Mon, 5th Mar 2018 4:43 pm
I might add MM, Canadians in general are not supportive of the Kitimat LNG terminal, as this proposal doesn’t meet obligations agreed to in the Paris Accords, but I’m sure that Shell Canada, based out of Houston Texas, will lobby (bribe) government officials to fast track the project, as per usual.
“After a global reorganization by the European parent, Shell’s North American operations are controlled by Shell Energy North America, which is headquartered in Houston, Texas. Shell Energy North America’s Canadian operational unit, Shell Canada, maintains a regional corporate office in Calgary, Alberta.”
https://en.wikipedia.org/wiki/Shell_Canada
fmr-paultard on Mon, 5th Mar 2018 4:44 pm
basic research shows supertards are gifted and uplifted into accelerated programs. basic research also shows supertards are competitive in uplifting living habitat that maximizes whole system performance. this gives a nation an edge.
basic research shows women dominate musics singing some dumb stuff. but it’s still important. just because it’s dumb doesn’t mean it’s not important. my loneliness disappeared after i let stereo on 24×7.
p!nk
We were on fire
I slashed your tires
It’s like we burned so bright we burned out
I made you chase me
I wasn’t that friendly
My love, my drug, we’re fucked up, oh
MASTERMIND on Mon, 5th Mar 2018 4:46 pm
Build your own limits to growth models! Now anyone can be a scientist.
http://bit-player.org/extras/limits/ltg.html
fmr-paultard on Mon, 5th Mar 2018 4:49 pm
islamic republic of (iran, pakistan, somalia, afghanistan)….angola, LOL mosques being banned or destroyed
MASTERMIND on Mon, 5th Mar 2018 4:57 pm
Greg
Shell might make some money with gas prices soaring but they are not saying they can cover a world wide shortage out of just drilling in Canada..Stop trying to mislead people that is dishonest.
MASTERMIND on Mon, 5th Mar 2018 5:00 pm
Greg
Look at the chart on this map! And it has nothing to do with lack of investment! LOL Its called peak gas is here!
Shell forecasts global Natural Gas supply shortage in mid-2020s
https://www.cnbc.com/2018/02/26/shell-warns-of-lng-shortage-as-demand-for-liquefied-natural-gas-booms.html
GregT on Mon, 5th Mar 2018 5:03 pm
A world wide shortage does not man a shortage in Canada, for example. Canada is a net exporter of both LNG and Natural Gas.
So “world wide” is obviously misleading.
And MM, the quote I provided is from the article that you linked. I didn’t write it. Send your complaints of dishonesty to: ‘The Globe and Mail’.
fmr-paultard on Mon, 5th Mar 2018 5:04 pm
https://imgur.com/a/asx9a
GregT on Mon, 5th Mar 2018 5:12 pm
“Look at the chart on this map! And it has nothing to do with lack of investment! LOL Its called peak gas is here!”
The article is talking about LNG MM. What part of LNG do you not understand?
MASTERMIND on Mon, 5th Mar 2018 5:16 pm
Fascist get their ass kicked in my state today! Antifa showed up to wreck the party!
https://www.freep.com/story/news/local/michigan/2018/03/05/richard-spencer-michigan-state-university/395079002/
fmr-paultard on Mon, 5th Mar 2018 5:16 pm
Somalia: Death Toll from October Bomb Attack Rises to 587…
On This Day…
Mar 05, 2003: Haifa, Israel
A suicide bomber claims seventeen bus passengers: 17 Killed
https://www.thereligionofpeace.com/
MASTERMIND on Mon, 5th Mar 2018 5:19 pm
Greg
Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane C2H6) that has been converted to liquid form for ease and safety of non-pressurized storage or transport.
https://en.wikipedia.org/wiki/Liquefied_natural_gas
Global oil and gas shortage coming! This world will burn!
MASTERMIND on Mon, 5th Mar 2018 5:21 pm
Cops got some push back this time. They won’t be able to protect the fascists or themselves forever.
https://www.freep.com/story/news/local/michigan/2018/03/05/richard-spencer-michigan-state-university/395079002/
????????????????????????????????? on Mon, 5th Mar 2018 5:35 pm
iran just increased it’s stockpile of WMDs. The only fascists are libtards like MM who want low IQ criminal idiots to continue to degenerate the West
MASTERMIND on Mon, 5th Mar 2018 5:40 pm
????
What Mass Immigration Wave?
https://imgur.com/a/cgKTh
You people on the right are so paranoid and dumb!