Dollar peg in focus at Gulf summit-(that will leave a mark)

gulf times ^ | 29 November, 2007 | Doha Time

[Flavius]

KUWAIT CITY: Leaders of the oil-rich Gulf Arab states, holding their annual summit next week, are faced with mounting pressure either to end their currencies’ peg to a sliding dollar or revalue. The six-member Gulf Co-operation Council (GCC) will also have to decide whether to stick to a self-imposed 2010 target date for the launch of a single currency, which appears more and more unrealistic as inflation keeps rising. Around 90% of public revenues in the GCC countries – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE) – come from oil, which is priced in dollars.

[BlabItGrabIt]

The terror with OPEC are the unreported facts that crude has been artificially raised by socialist interests trying to bring the US into a recession so the socialist's candidate can become the next US President.

OPEC is as opposed to America's first female president as the American people are...

[philly-d-kidder]

The GCC knows the Socialist based Euro is due for a Bottoming out... all talk right NOW about eliminating Dollar... !Put it in YUAN or Renimbi.. if they really want to make money off that undervalued currency!

From The Arabian Desert..

[billbears]

Dollar faces new sell-off if Gulf states end greenback pegs

Well it's beyond evident to anyone who's watching the Gulf States are supporters of terrorism, hate our freedom...oh and are making WMDs....dropping the dollar that can you get a 'regime change' right quick.

Ping to you two just because the dollar will drop even further on this news.

[Extremely Extreme Extremist]

Unfortunately, monetary policy is something I know zero about. I only know how to spend it.

I know that my groceries and gas bills have skyrocketed, though.

[traviskicks]

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