Wednesday, October 7, 2009

The demise of the dollar

In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading
By Robert Fisk
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.
The independent
(Thanks Maracatu)
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10 comments:

  1. ananOctober 7, 2009 at 4:47 PM

    This sounds too conspiratal. Ultimately central banks are investors. They will buy the currencies with the best risk adjusted rates of return. It is mostly as simple as that. It looks like the Chosen One wants to weaken the dollar to boost US exports and reduce US unemployment. This is one factor behind US dollar weakness. Foreign investors are responding accordingly.

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  2. flemingOctober 7, 2009 at 7:20 PM

    Feel free to send all your "worthless dollars" my way. LOL

    This article was talked about incessantly in all the buisness news outlets. 

    The best thing that could happen is China takes over the US position of leadership.  You think the US was bad? You aint seen nothing yet.  A lebanese friend of mine (its true!) calls the chinese the "jews of asia" for their well known ruthlessness.

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  3. ananOctober 7, 2009 at 7:40 PM

    "jews of asia" sounds like a complement to me. Usually people around the world seem to use Jew to mean motivated, determined, passionate and successful.

    I hope China does play a larger global role. India, Japan, EU, South Korea, Indonesia and Brazil too.

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  4. flemingOctober 8, 2009 at 12:28 AM

    Sounds like you havent a clue anan.  More bland platititudes and atttempts at "progressiveness". 
    A larger global role, as if you even know what that means. 
    You are an insufferable bore. 

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  5. VAAOctober 8, 2009 at 1:52 AM

    the demise of the US and the Zionist State is to follow ( in my life time , US much sooner ).

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  6. VAAOctober 8, 2009 at 1:55 AM

    <span style="">the demise of the US and the Zionist State is to follow ( in my life time , US much sooner ).</span>

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  7. fleimingOctober 8, 2009 at 4:29 AM

    Sure it will VAA.  Keep on believing man.  Then arab hordes can take over the world and restore your folks to their rightful position of power and wealth.

    Yea, Im real worried about that scenario.  Say, you guys build your own cars yet?

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  8. r.s.October 8, 2009 at 4:32 AM

    "The empire of the dollar is crashing."
    Hugo Chavez, Venezuelan President

    "The US dollar is a worthless piece of paper."
    Mahmoud Ahmadinejad, Iranian President

    [The US dollar is] "losing its status as the world currency."
    Xu Jian, vice director, People's Bank of China

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  9. flemingOctober 8, 2009 at 5:39 AM

    Gee r.s.s, you quote Chavez and Ahdminijahd on the dollar?  That is like quoting Bin Laden.  Who gives a F what those dudes have to say on the matter?  Their position is just slightly biased. LOL

    China holds billions of dollars and their export oriented economy desperately needs our consumers to keep buying their goods.  They also need a weak yuan to keep their exports strong.  Thus, this was more of a "warning" to the US that we should not continue policies that weaken the dollar. I happen to agree with him! LOL LOL LOL

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  10. vOctober 8, 2009 at 4:11 PM

    still dropping

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