Iran is considering opening an exchange for oil and energy futures and it has some at the NYMEX scared. Why? Who in the world is crazy enough to put millions of dollars in an exchange in Iran? Last time I checked most of the world’s contracts are traded by Americans and Europeans and Iran doesn’t like us too much. Secondly who is going to stop them from moving the markets with their own oil? Sounds like a checks and balances system gone bad. I don’t trust Iran and would not put one money in their exchanges. I know some will but I don’t think any of the other exchanges have anything to worry about.

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