Iran tells India to pay in Euros, not US dollars

Iranian Abadan Oil Refinery

Iran is telling India that it wants to be paid in Euros:

As US lifts sanctions, Iran wants India to pay oil dues in euros

February 7, 2016

Iran has asked Indian refiners such as Essar Oil and Mangalore Refinery and Petrochemicals Ltd (MRPL) to clear its past oil dues amounting to over $6 billion in euros within six months.

With US lifting sanctions, Iran has told Indian authorities that the three-year old mechanism, paying 45 per cent of oil import bill in rupees and keeping the remaining 55 per cent pending for payment channels to clear, has come to an end.

The pending payments now total to over $6 billion which Iran has agreed to receive in installments over the next six months, sources privy to the development said.

Central Bank of Iran’s vice governor Gholamali Kamyab has conveyed to Indian authorities that crude oil proceeds from now on would be in euro as Iran would not be able to undertake US dollar settlement through the US financial system. http://indianexpress.com/article/india/india-news-india/as-us-lifts-sanctions-iran-wants-india-to-pay-oil-dues-in-euros/#sthash.DzFiYaXp.dpuf

While this is not a surprise, it does show that Iran feels it is better off using the Euro as a reserve currency than the US dollar.

Iran is considered to be the biggest state sponsor of terrorism according to a report I saw a couple of nights ago. And now that Iran is able to access to something like US$100 billion of frozen assets, it does not wish to get involved with the USA when it does not have to. It fears that the US could lead the fight for future sanctions against it.

Iran is not alone in wishing to decouple from the US dollar.

Notice the following:

February 6, 2016

Iran wants post-sanctions’ oil contracts denominated in dollars and have buyers pay in euros, Reuters reported. Tehran is also keen to receive money owed to it since the pre-sanctions days in the European currency.

The country’s crude deliveries are to be restored soon, with companies such as the French giant Total, Spanish refiner Cepsa and Litasco and the trading arm of Russia’s Lukoil already holding contracts. Reuters source at state-owned National Iranian Oil Co (NIOC) told the agency that Tehran wants to receive payment in euros.

“In our invoices we mention a clause that buyers of our oil will have to pay in euros, considering the exchange rate versus the dollar around the time of delivery,” the source said.

Tehran also wants to receive billions of dollars worth of assets frozen under the sanctions in euros, said another source. Iran has an estimated $100 billion in assets and around half of these would be unfrozen under the upcoming sanctions relief. …

Iran is not alone in wanting to distance itself from the dollar. Russia has been working towards the same goal, trying to eliminate the US currency from domestic trade and signing deals with its key foreign economic partners to use national currencies in bilateral trade. https://www.rt.com/business/331571-iran-dump-dollar-oil/

So, Iran wants Euros, not dollars.

Some nations want to drop the US dollar because they hate the USA (and/or its economic dominance), whereas others feel that the USA’s financial controls and reporting are excessive and getting more difficult to traverse.

The fact that Iran picked the currency of the European Union is consistent with the biblical reality that the Europeans will, for a time, dominate the world economically as discussed in Revelation 13 and 18.

More and more countries are working to change the current economic order to eliminate the USA’s dominance. China and the European Union come to immediate mind.

When the USA dollar finally loses its status as the world’s reserve currency, it will be worse than most politicians seem to realize. Expect inflation, interest rate rises, followed by hyperinflation, followed by collapse of the economy of the USA.

The Bible teaches that the USA will end–and the end will come because of international concerns about its debt (Habakkuk 2:6-8), plus the USA relying on military strength and allies that will betray it (Lamentations 1:1-2; Daniel 11:39).

Last December, the US Federal Reserve raised interest rates for the first time in nearly a decade (see Federal Reserve votes to raise interest rates; M&M discounts idea of hyperinflation, plus claims Europe to be torn to pieces by 2020).

Once interest rates rise a lot, it will be a serious issue for more than the politicians in Washington. It will be a ‘catastrophe’ that will be a factor in the ‘game’ of the subsidized USA standard of living being over. And actually it will be worse that that.

The time will likely come when USA interest rates will rise so much that this will ultimately cause a crisis of intense magnitude. The admitted US federal debt (not counting the money created through the quantitative easing programs) is so large that if interest rates rise to the place that they were in the USA in the early 1980s, the USA will have difficulty even paying the interest on the debt it has been accumulating. This will tend to cause interest rates to further rise and contribute to hyperinflation.

Part of the reason that the USA has been able to stave off inflation has been the status of its dollar as the world’s reserve currency. Many US dollars are in banks and other places outside the USA, meaning that they have not returned to the USA to buy goods and services. When those foreigners stop holding the dollars and want to redeem them, inflation will happen. Iran’s actions are not enough to cause this, yet when enough nations do so, hyperinflation will result.

Which means?

Costs of almost everything in terms of the USA dollar will rise.

The Bible warns the following:

13 “Behold, therefore, I beat My fists at the dishonest profit which you have made, and at the bloodshed which has been in your midst. 14 Can your heart endure, or can your hands remain strong, in the days when I shall deal with you? I, the Lord, have spoken, and will do it. 15 I will scatter you among the nations, disperse you throughout the countries, and remove your filthiness completely from you. 16 You shall defile yourself in the sight of the nations; then you shall know that I am the Lord. (Ezekiel 22:13-16)

Printing/electronically creating money, as the USA has been doing to finance its debt, is a ‘dishonest profit.’ The reserve status of its currency has allowed the USA to do this. The USA has been more and more living off of these dishonest profits and that will end.

Why? Notice the following:

43 The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower. 44 He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail. 45 Moreover all these curses shall come upon you and pursue and overtake you, until you are destroyed because you did not obey the voice of the LORD your God, to keep His commandments and His statutes which He commanded you…47 “Because you did not serve the LORD your God with joy and gladness of heart, for the abundance of everything, 48 therefore you shall serve your enemies, whom the LORD will send against you, in hunger, in thirst, in nakedness, and in need of everything; and He will put a yoke of iron on your neck until He has destroyed you. 49 The LORD will bring a nation against you from afar, from the end of the earth, as swift as the eagle flies, a nation whose language you will not understand, 50 a nation of fierce countenance, which does not respect the elderly nor show favor to the young. 51 And they shall eat the increase of your livestock and the produce of your land, until you are destroyed; they shall not leave you grain or new wine or oil, or the increase of your cattle or the offspring of your flocks, until they have destroyed you. 52 They shall besiege you at all your gates until your high and fortified walls, in which you trust, come down throughout all your land; and they shall besiege you at all your gates throughout all your land which the LORD your God has given you (Deuteronomy 28:42-45,47-52)

The world order will change.

Here are some comments from my book Hillary Clinton, Prophecy, and the Destruction of the United States:

A modern reality is that being the world’s de facto reserve currency has helped prolong the U.S.A.’s dominance.

When the U.S. dollar is no longer the world’s reserve currency, this will hurt the U.S.A. financially. Increasing debt, including “quantitative easing,” is a form of dishonest profits that is not something that God approves of and will punish the U.S.A. for (cf. Ezekiel 22:13-16).

Inflation will eventually hit the U.S.A. extremely hard. As the world becomes less attached to the American dollar, many financial jobs and opportunities will be in places other than the U.S.A. Eventually, but not yet, the U.S.A. dollar will become worthless.

Will it always be straight downhill for the economy of the U.S.A.?

No.

There are some reasons to have some temporary optimism. The longer there is some economic stagnation, the more demand tends to build up, and an increase in demand may prolong the economy. In addition, technological and other developments may temporarily support the U.S. economy.

In addition, because of improvements in various aspects of energy technology (some of which Hillary Clinton supports), the U.S.A. may experience even more of an energy export boom, such as with oil and natural gas, etc. that may prolong its days of economic prosperity. But prolonging is likely all that is possible (cf. Daniel 4:27). …

Since many are now questioning the role of the U.S. dollar as the world’s reserve currency, more are looking into other currencies as well as gold. Gold will set records in U.S. dollar terms. When the U.S. dollar totally collapses people all around the world will consider that even if the Euro (or something similar) is strong, having a more gold-backed currency would be safer. The collapse of the U.S.A. dollar will shake a lot of the world’s confidence in non-gold backed currencies. The Europeans do not have to have a perfect currency, only one that is perceived to be in better shape than the USA dollar. Having the European power acquiring more gold to back the Euro or possibly another future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe, even if the backing is only implied.

The financial policies of the Obama Administration, which are a massive acceleration of the previous policies of the Bush Administration, are heading the world into the time when something other than the U.S. dollar will be valued as its reserve currency. A Hillary Clinton presidency would need to make extremely massive changes to possibly prevent this. The USA and its dollar are at serious risk. (Thiel B. Hillary Clinton, Prophecy, and the Destruction of the United States. Nazarene Books, 2015, pp. 94-95, 161)

The stage is being set for the replacement of the USA dollar.

The IMF, Russia, China, India, Iran, some of the Gulf States, and the Europeans are all working to dethrone the dominance of the USA dollar. And while they are still not able to, the time will come when the USA dollar will be worthless for anything except burning for warmth or other uses for the type of ‘paper’ the bills are printed on.

Once interest rates get too high, the USA will have an economic crisis of unbelievable magnitude. National repentance is what is required, and since that is not going to happen, catastrophe will.

Personal repentance is still possible as that is the only way out of the problems that will hit the USA and its Anglo-Saxon descended allies.

Some items of possibly related interest may include:

Iran in Prophecy Is Iran in Bible prophecy? If so, what does the Bible teach? What names, other than Persia, may be used to describe Iran? There is also a YouTube video titled Iran In Prophecy.
India, Its Biblical Past and Future: Any Witness? The Bible discusses the origins of those of Indian heritage. This article quotes the Bible and also discusses some of the witness to India throughout history and what is happening in the 21st century (including those in Bangladesh, Pakistan, and Sri Lanka).
India and the Beast of Revelation 13 Do biblical, Catholic, and even Hindu prophecies suggest that many in India will follow, for a while, the Beast and False Prophet/Antichrist? Here is link to a related YouTube video Will People in India Worship the Beast of Revelation 13?
Is Russia the King of the North? Some claim it is. But what does the Bible teach? Here is a link to a video, also titled Is Russia the King of the North?
Ezekiel 38: For Russia & Iran in Our Day? Is Ezekiel 38 about to be fulfilled? A related video is available titled Ezekiel 38: For Russia, Ukraine, & Iran Now? Another could be Russia, Iran, Syria, & the Bible (Code).
Collapse of the Euro and Dollar? War in 2020?. Larry Edelson of Money and Markets described aspects of current economic difficulties and explained why he felt matters would get a lot worse. He said war, like World War III, could break out as early as 2020. What did he call the ‘granddaddy of all cycles”? Will matters go as he said? What does the Bible teach? Dr. Thiel provides biblical insights that secular sources often miss. This is a video.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
When Will the Great Tribulation Begin? 2016, 2017, or 2018? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2016 o 2017? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon video: The Great Tribulation from the Mount of Olives. A shorter video is: Can the Great Tribulation Start in 2016?
Two Horned Beast of Revelation and 666 Who is 666? This article explains how the COG views this, and compares this to Ellen White. Here is a link to a prophetic video Six Financial Steps Leading to 666?
The Mark of Antichrist What is the mark of Antichrist? What have various ones claimed? Here is a link to a related sermon What is the ‘Mark of Antichrist’?
Mark of the Beast What is the mark of the Beast? Who is the Beast? What have various ones claimed the mark is? What is the ‘Mark of the Beast’?
Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations? Some claim that these passages refer to a gathering of 10 currently existing nations together, while one group teaches that this is referring to 11 nations getting together. Is that what Revelation 17:12-13 refers to? The ramifications of misunderstanding this are enormous. A related sermon is titled Ten Kings of Revelation and the Great Tribulation.
World War III: Steps in Progress Are there surprising actions going on now that are leading to WWIII? Might a nuclear attack be expected? What about WWIV? Does the Bible promise protection to all or only some Christians? How can you be part of those that will be protected? A related video would be Is World War III About to Begin? Can You Escape?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2021 or 20xx? There is also a video titled The 6000 Year Plan: Is the end of humanity’s reign almost up?
Project Prophecy: Economic Collapse Starting in 2015? Jim Rickards once worked for the CIA and also was once part of a a USA government program called called ‘Project Prophecy.’ He has a video were he claims that starting in 2015, the USA may have economic collapse resulting in a 25-Year Great Depression. He mainly cites debt figures and claims advises alternatives to the USA dollar which he says will collapse? What did Rand Paul state? Can the USA dollar collapse?
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse.
Just What Do You Mean — Repentance? Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong wrote this as a booklet on this important subject.
When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.
The Gospel of the Kingdom of God was the Emphasis of Jesus and the Early Church Did you know that? Do you even know what the gospel of the kingdom is all about? True religion should be based upon the true gospel.
Did The Early Church Teach Millenarianism? Was the millennium (sometimes called chiliasm) taught by early Christians? Who condemned it? Will Jesus literally reign for 1000 years on the earth? Is this time near? A related sermon is titled The Millennium.
Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about a Republican choice. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic Catholic, Kenyan, and other America-Related Prophecies? What About Republican Leaders? Second Edition for Second Obama Term.
Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition.
Hillary Clinton, Prophecy, and the Destruction of the United States This is a 188 page book for people truly interested in prophecies related to Hillary Clinton and the United States, including learning about many that have already been fulfilled and those that will be fulfilled in the future. It also discusses Republicans. The physical book can be purchased at Amazon from the following link: Hillary Clinton, Prophecy, and the Destruction of the United States: Is Hillary Clinton Fulfilling Biblical, Islamic Catholic, Hopi, and other America-Related Prophecies? $11.99.
Hillary Clinton, Prophecy, and the Destruction of the United States-Amazon Kindle edition. This electronic version of the 188 page print edition is available for only US$3.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Hillary Clinton, Prophecy, and the Destruction of the United States-Amazon Kindle edition.