California Expert Software

Introduction
Bloomberg news reports that Iran may increase oil sales in Euros, not Dollars. This change comes just as the United States is expected to post the largest trade deficit ever, largely due to imports from China. Since the 1970s, oil has been traded in dollars, which allows OPEC countries to recycle their dollars as investments in the U.S. Switching to Euros would strengthen the Euro and promote investment in Europe, with exactly the opposite effect on the U.S. and the dollar. China has been considering dumping its huge dollar reserve in favor of a market basket of currencies, which would further impact the dollar.

Introduction

Bloomberg news reports that Iran may increase oil sales in Euros, not Dollars. This change comes just as the United States is expected to post the largest trade deficit ever, largely due to imports from China.

Since the 1970s, oil has been traded in dollars, which allows OPEC countries to recycle their dollars as investments in the U.S. Switching to Euros would strengthen the Euro and promote investment in Europe, with exactly the opposite effect on the U.S. and the dollar.

China has been considering dumping its huge dollar reserve in favor of a market basket of currencies, which would further impact the dollar.

Dollar Threatened