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Sunday, May 6, 2012

''The weakening of the petrodollar''

From Daily Caller

...........''few saw the end-around that Germany would pull off. Though a member of the E.U., Germany has developed means to continue trade with Iran without so much as a hiccup. Cash is being traded, directly, circumventing SWIFT. A system of barter that sidesteps conventional currency channels is being implemented.

Transfers are being made through neutral intermediaries such as Armenia, Belarus, Azerbaijan and Turkey.
As the largest European exporter to Iran, Germany stands to lose the most from the sanctions. The Islamic Republic relies heavily on quality industrial equipment, among other things. It’s to their mutual benefit to continue trading.''

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