The Dollar Exclusion Zone

In its mad and unrelenting determination to destabilize Iran [which has not invaded any country since the Persians invaded Greece in 492 B.C.] and overthrow its regime, the United States twisted arms and coerced the Europeans to join them in imposing a new round of economic sanctions on Iran and curtail imports of Iranian crude.
Well, that might have worked back in the 1950's when the United States was the global superpower and could bully any country into submission.
But no more.
The Asian economic superpowers, whose economies are growing by leaps and bounds as the American and European economies continue to stagnate, have said "no" to the dollar and created a de-facto Dollar Exclusion Zone in Asia.
Japan, China, Russia and India have all signed bilateral agreements with Iran which remove the U.S. dollar as the intermediate medium of exchange. 
First it was China and India who are bypassing the dollar and engaging in direct currency trade.
Next, China and Russia dropped the U.S. dollar in bilateral trade. 
Then China and Iran agreed to bypass the U.S. dollar and engage in an oil barter system. 
And now India and Iran have agreed to settle some of their $12 billion annual trade in rupees.
Source: http://bit.ly/xYvADd
What does this Dollar Exclusion Zone mean?
It means that the United States and Europe have just shot themselves in the foot and that their "sanctions" of Iran are inconsequental and self-defeating.
Maybe the Western powers will figure out one day that boycotts and sanctions don't work and that, instead, they most often have produced unexpected and unpleasant consequences for the boycotting countries.
And maybe the Western powers will figure out one day that it's better to sit down at the table and engage in talks with the Iranians--no holds barred and no preconditions--than to continue their proposterous bluster and saber-rattling in the ultimately vain hopes of scaring the 80 million Iranians into submission.
Here's a news flash: 94% of the Iranians are Shia Muslims to whom martyrdom is a central tenent of their faith; and whatever their views towards the regime, the 80 million Iranains are 100% united behind their government and will go down fighting to the last drop of blood if necessary to defend their country.
That's why, to paraphrase Sir Winston Churchill, it's better to "jaw-jaw" with the Iranians instead of "war-war" with them.
Jagor