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*Phil*
Opinionated Interventionist
| Joined: | Thu Apr 21st, 2005 |
| Location: | North Carolina USA |
| Posts: | 3490 |
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Posted: Tue Oct 6th, 2009 03:46 pm |
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In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar. Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars. The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
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Pecca fortiter, sed fortius fide et gaude in Christo!
Galactic Signature: Blue Self-Existing Monkey
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Roy
Quasi-Infallible Egocentric Tyrant
| Joined: | Mon Apr 4th, 2005 |
| Location: | Washington USA |
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Posted: Wed Oct 7th, 2009 03:26 am |
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It is to our advantage in the long run.
If we drill for oil and natural gas and build those nuclear reactors, followed then by alternatives, and we become a net energy producer, lowering our trade deficit, perhaps going surplus, we could restore the dollar in just a few years.
Will we do it?
Not with Obama in charge.
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"The force and degree of a man's inner benevolence evokes in others a proportionate degree of ill-will" - Gurdjieff
"In a time of universal deceit, telling the truth is a revolutionary act." — George Orwell
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