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The New DU. US$: Forget Iran, the problem's at home...
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bridgit
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Thu Mar-16-06 08:22 AM
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| US$: Forget Iran, the problem's at home... |
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'Of all the things that could wreck the US dollar - and there are many - the projected Tehran oil bourse, which is tentatively scheduled to open on March 20 to trade Iran's crude and other petroleum products in euros rather than US dollars, is probably not among them.
The much greater threat to the US currency is the US current account deficit, which ballooned to 7% of gross domestic product in the fourth quarter of 2005. The announcement drove the euro up to 1.202 against the US dollar as skittish traders renewed their concerns about the world's fiat currency.'http://www.atimes.com/atimes/Global_Economy/HC17Dj02.html
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