I’m not clairvoyant, I swear. A couple days ago I shared my thoughts about the US Dollar. In the middle of that post I got off on a tangent about the price of oil, the fact that it is traded in US Dollars and that I believe the preservation of foreign wealth in a declining dollar environment is a contributing factor to the continuing run up in oil prices.
Well guess what I just stumbled across in the news? Of course, the title of this post gives it away.
I don’t expect this to happen, at least not in the near term. I don’t believe Iran has enough influence in the OPEC community to pull this off. However, if the Dollar continues to decline, I could see Iran gaining support with this idea as more of the oil producing nations might become more worried about preserving their wealth and income.
I hope someone who can protect our Dollar is paying attention before its too late.
What do you think?
- Jeff
Learn to manage money and mind your own business.
More from Minding My Own Business
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment