"Iran is planning to open a commodity exchange, under names variously referred to in English as Iran Petroleum Exchange, International Oil Bourse or Iranian Oil Bourse, for the express purpose of trading oil, petrochemicals and gas in various non-dollar currencies, including euros. The opening date was initially planned for March 20, 2006. If successful, this would establish a euro based pricing mechanism for oil trading, or 'oil marker' as it is called by traders.
The acronym IOB has been used as it can be interpreted as either International Oil Bourse or Iranian Oil Bourse, but has no official status."
http://en.wikipedia.org/wiki/Iranian_Oil_BourseIs it opening? Will the MSM say anything about it? How will it impact the value of the dollar and our economy?
http://en.wikipedia.org/wiki/Petroeuro