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by William R. Clark (Friday August 05 2005)

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Petrodollar warfare: Dollars, euros and the upcoming Iranian oil bourse

"A successful Iranian bourse will solidify the petroeuro as an alternative oil transaction currency, and thereby end the petrodollar's hegemonic status as the monopoly oil currency. Therefore, a graduated approach is needed to avoid precipitous U.S. economic dislocations." "This notion that the…

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