Ok, now it's really bomb Iran time

As a prelude to trading oil in Euro, Iran has opened its first oil products bourse trading in non-dollar currencies. It looks like they will follow this with the proposed oil bourse, the world's fourth–all the others are dollar denominated.

To say that this is unlikely to play well in Washington would be a marvel of understatement. The dollar is set to lose value, along with its favoured status among world traders.

Can it be long before we hear the patter of tiny boots climbing into Humvees?

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