Yes, maybe hyperinflation on the horizon here as the population react to a declining currency by buying anything that will retain any kind of value.
I can't see an oil based standard introduced, because at the moment not many are buying their oil, so they'll have to reduce the price to try and cajole reluctant purchasers.
In addition the Saudis despise the Iranian regime and say they'll make up any shortfall in case the Iranians try a blockade.
They're in a jam all right, it'll be interesting to watch this one.
