No big revelation that the dollar is steadily losing value, but still a pretty sad state of affairs. The US dollar, once the king of all currency and the preferred way to pay on the international market is no longer being accepted by a 3rd World country to pay for oil. LINK
No doubt the dollar is weak but that is not the motivation behind this. It is a purely political move by a radical leader trying to make his country independent of a growing world sentiment for further sanctions.
Just a tit-for-tat retaliation for our economic boycott. And their tits aren't big enough to impress us. Don't sweat it too much. We still have the most stable economy and government in the world and when countries start losing money on Euros and Yens, they will be glad they kept some in dollars.
Where you are correct that the US dollar is losing its value compared to other currencies... you are stretching a little (naw a long way) to say that the reason Iran's president made the decision to quite accepting US dollars is because of the stability of our currency. The guy is trying to play a game of chess with us, and if we continue to toy with him we will lose. When you stoop to people’s levels that have nothing to lose you give them credibility simply by going tit for tat with them. Just my $.02
You must spread some reputation around befroe giving it to Red again Red Your post is better said than mine
I realize that, but it's still a little disconcerting. If the dollar was stronger, I don't believe they do it.
The dollar is stronger today than it was 5 weeks ago. Not sure it will last but moving in the right direction.
Inflation in Europe is really high right now. That, coupled with the week dollar, is driving down European exports. The dollar should recover nicely in the next 6-12 months. Its gonna hurt for a while longer, but now is the time to realize foreign exchange gains.
