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Mideast Banks Revolt Against US Dollar
Middle East Times ^ | 3/14/2006 | Staff Writers

Posted on 03/15/2006 8:58:19 AM PST by ex-Texan

click here to read article


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To: ex-Texan

I'd like to see the list of countries that "allow the US to buy anywhere." I'll bet there are very few who do not restrict our ownership in some fashion. Mexico springs to mind, and doesn't Dubai have restrictions on foreign investments as well?


51 posted on 03/15/2006 2:33:33 PM PST by kittymyrib
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To: sit-rep
I don't think it is the "no" as much as the way the "no" was said. Had the whole thing been handled in a diplomatic way with private meetings, I'm sure something could have been worked out to everyones satisfaction and no embarrassment would have been suffered by anyone.
52 posted on 03/15/2006 2:48:39 PM PST by jazusamo (:Gregory was riled while Hume smiled:)
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To: jazusamo
...embarrassment would have been suffered by anyone.

What the true crime is, the embarrassment is not over the way their citizens(Muslim) handle themselves at home, and abroad....

53 posted on 03/15/2006 3:00:34 PM PST by sit-rep (If you acquire, hit it again to verify...)
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To: ex-Texan

We should counter-threaten by saying we'll make it our nations mission to make oil obsolete in ten years.

They can go back to riding camels in that worthless sandbox.


54 posted on 03/15/2006 5:28:58 PM PST by Finalapproach29er (Americans need to remember Osama's "strong horse" -"weak horse" analogy. Let's stop acting weak.)
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To: ex-Texan
But I am saying that Iran and Syria have been plotting this strategy for some time now.

I agree. Check out this article No, the Iran Oil Bourse is not a 'casus belli'

55 posted on 03/15/2006 6:49:58 PM PST by forester (An economy that is overburdened by government eventually results in collapse)
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To: ex-Texan
With the vast majority of net foreign trade surpluss tied up in United States treasuries....which so happen to be denominated in dollars...the dollar is not at risk because of this posturing...euro backed bonds are a piddle in comparison to our own...

Unless of course you think UAE, SA and the rest of the petro suppliers who recycles their windfalls back into those treasuries want to lose money on their investments.

Further the trade deficits we run also get recycled back into this country in the form of foreign investment in both debt and equity markets...also dollar denominated and backed...

I don't think this will have much of an effect on the dollar...

Read this article...I agree with it's author...

A euro challenge?

For the euro to begin to challenge the reserve role of the US dollar, a virtual revolution in policy would have to take place in Euroland. First the European Central Bank (ECB), the institutionalized, undemocratic institution created by the Maastricht Treaty to maintain the power of creditor banks in collecting their debts, would have to surrender power to elected legislators. It would then have to turn on the printing presses and print euros like there was no tomorrow. That is because the size of the publicly traded Euroland government-bond market is still tiny in comparison with the huge US Treasury market.

http://www.atimes.com/atimes/Middle_East/HC10Ak01.html

56 posted on 03/15/2006 7:03:13 PM PST by antaresequity (PUSH 1 FOR ENGLISH - PUSH 2 TO BE DEPORTED)
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To: antaresequity

same article as I linked in post #55


57 posted on 03/15/2006 8:14:09 PM PST by forester (An economy that is overburdened by government eventually results in collapse)
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To: ex-Texan

The UAE is acting like a spoiled child that didn't get it's way once on the playground and has now decided to take it's ball and go home.


58 posted on 03/16/2006 1:03:20 AM PST by Paul C. Jesup
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To: ex-Texan
It has been some talks about trading oil in Euro in Norway too. It makes sense since our oil mostly is exported to the EU.
59 posted on 03/18/2006 7:31:04 AM PST by tomjohn77
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