In Chicago, gas prices have now topped $4 a gallon. Americans all across the country are struggling to fill up the tank. Companies are even pitching in gas money to help their employees out.

Iran has stopped trading in US dollars for oil, according to a top Iranian oil ministry official.

The official, Hojjatollah Ghanimifard, told Iranian state-run television today that “the dollar has totally been removed from Iran’s oil transactions,” and that the country has “agreed with all of our crude oil customers to do our transactions in non-dollar currencies.”

The dollar’s spending power, like it or not, is at the mercy of Iranian president President Mahmoud Ahmadinejad, says Addison Wiggan

Foreign countries drop their U.S. dollar reserves. We depend on foreign investment in our currency to bolster its value or, at least, to slow down its fall. When that thinly held balance changes, our dollar loses its spending power.

Venezuelan President Hugo Chavez said a few months ago that if the United States invades Iran, we could expect to see oil at $200 a barrel. With oil already approaching the $120 mark, we may get there even without invading Iran.

Uh oh, what’s this? “Argentina may face worst unrest since the ’70s”, says a headline in the TIMES of London. Hmmm… we’re on a way to Argentina on Friday… to see our new grandson. The last thing we want is trouble.