Iran’s oil bourse, a new pressure on U.S. dollar http://www.tehrantimes.com/index.php/economy-and-business/1041-irans-oil-bourse-a-new-pressure-on-us-dollar

If the main oil consuming and producing nations in the world conspire to trade oil over an open exchange, similar to Iran’s Oil Bourse, and price the oil in currencies other than or as well as the U.S. dollar, then the world is likely to be economically more stable. Iran’s IOB is not new. The timing of its move to trading physical cargos of oil on July 13 seems a clear step towards putting pressure on the U.S. dollar, and to show others that an alternative to the status quo of oil trading is available. The main question is which country will be the next to use its own oil exchanges, and will the U.S. military be able to surround that country?