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Will Iran Kill the Petrodollar?

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The official line from the United States and the European Union is that Tehran must be punished for attempting to develop a nuclear weapon. The punishment: sanctions on Iran's oil exports, which are meant to isolate Iran and depress the value of its currency to such a point that the country crumbles. But that line doesn't make sense, and the sanctions will not achieve their goals. Iran is far from isolated and its friends will stand by Iran nation until the US either backs down or acknowledges the real matter at hand. That matter is the American dollar and its role as the global reserve currency.

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