Friday, June 04, 2010

Iran distancing from the Euro too?

Amusingly interesting if true...

02:59: Iran is bailing on the sickly euro. According to state-run TV, the Central Bank of Iran is converting forex reserves totaling 45 billion euros into dollars and gold.

We can’t help but chuckle. In 2006, the mullahs in Tehran made a huge deal about opening their own oil bourse that would trade in euros. It took them until 2008 to get their act together and open the thing. Now their founding premise is falling to pieces.

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