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Arab States launch secret move to stop using dollar for oil trading
Drudge ^
Posted on 10/05/2009 3:12:43 PM PDT by benjibrowder
ARAB STATES LAUNCH SECRET MOVES WITH CHINA, RUSSIA, FRANCE TO STOP USING DOLLAR FOR OIL TRADING... DEVELOPING...
TOPICS: Foreign Affairs; Government; News/Current Events; Russia
KEYWORDS: arabworld; bho44; china; currency; dollar; france; oil; russia
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To: TheRiverNile
So imports become insanely expensive. Will this bring jobs back?
21
posted on
10/05/2009 3:29:20 PM PDT
by
DonaldC
(A nation cannot stand in the absence of religious principle.)
To: randomhero97
Why do you think we get to screw our allies with worthless dollars?
22
posted on
10/05/2009 3:29:31 PM PDT
by
omega4179
(pos approval rating -11)
To: Shermy
A currency can be the world’s reserve currency while not being the currency in which oil is priced. The biggest example of this is sterling before World War 2. The dollar has always been the world’s oil pricing currency, even when it was not the reserve currency.
23
posted on
10/05/2009 3:29:34 PM PDT
by
Parmenio
To: P-Marlowe
The sky is falling!
Only if there is a severe and immediate plan to get off the dollar. If this is a 20-year scheme or a gradual plan to get out of petrodollars, the impact will be much less and not create a huge panic.
To: benjibrowder; Sleeping Freeper
You may have seen an advertisement. There is no such item on Drudge at the moment.
To: benjibrowder
Wonderful news! Now the US will pay for decades of abuse! The Rich will leave the US and we will become a workers paradise! Now if only there was a country that could prevent WWIII from taking place....
26
posted on
10/05/2009 3:32:01 PM PDT
by
Dallas59
To: randomhero97
Is Saudia Arabia one of the arab states? If so, why do many FReepers here still believe it’s an ally? Are you kidding?
Half the people here think Communist China is our ally.
27
posted on
10/05/2009 3:32:44 PM PDT
by
dragnet2
To: benjibrowder; Sleeping Freeper
Scratch that! I see it now.
To: Liberty Tree Surgeon
29
posted on
10/05/2009 3:32:58 PM PDT
by
DonaldC
(A nation cannot stand in the absence of religious principle.)
To: Sleeping Freeper
Just what Obama wanted.....
30
posted on
10/05/2009 3:33:43 PM PDT
by
Freddd
To: DonaldC
So imports become insanely expensive. Will this bring jobs back?
It would except basic staples our owned by multinationals who will sell to the highest bidder.
Take food, for example. Back in the '50s, there were tons of small farmers. Now, big agribusiness owns most of the land and they will sell to the highest bidder (if you think they are ruthless).
If that happens, America becomes more of a wasteland than anything else with the few jobs in existence being those that outsource our resources.
I'm certainly not predicting that will happen, but you can see the danger in letting big business marry big government. Nothing can be taken off the table completely.
To: TheRiverNile
I’m not sure that oil trading “soaks up” that many dollars. They are rolled over very quickly into other transactions. It’s not like they’re sitting under some Arab sheik’s mattress.
32
posted on
10/05/2009 3:35:14 PM PDT
by
Parmenio
To: Liberty Tree Surgeon
ARAB STATES LAUNCH SECRET MOVES WITH CHINA, RUSSIA, FRANCE TO STOP USING DOLLAR FOR OIL TRADING... DEVELOPING... It's there, go look again
33
posted on
10/05/2009 3:35:57 PM PDT
by
Las Vegas Ron
(Obama's Blackberry, who's on the other end?)
To: Liberty Tree Surgeon
Scratch that!Ditto my last post to you
34
posted on
10/05/2009 3:37:20 PM PDT
by
Las Vegas Ron
(Obama's Blackberry, who's on the other end?)
To: Lera
If this is true expect to pay $20 for a loaf of bread I guess that'll mean a new quality pickup truck will go for $165,000 instead of $50,000.
lol...With little or no pay raises like the past 10 years, that means nobody will be buying anything...
35
posted on
10/05/2009 3:37:43 PM PDT
by
dragnet2
To: benjibrowder
Well, let’s see now. If we didn’t have a commie Muslim Saudi-king-bowing traitor in the WH, we could immediately announce the open drilling offshore, in ANWAR and all other places in the US that have oil. That would flood the market with US oil cheaper than arab oil. That would back the SOBs off real quick.
Unfortunately, that bow to the king was Zero’s sign that he’s in compliance with the foreign takeover and destruction of the US of A.
How’s that hopey changey thingey workin for ya now, idiot lefties???
36
posted on
10/05/2009 3:40:26 PM PDT
by
XenaLee
To: benjibrowder
It should be interesting exchanging canned food this Christmas...
I prefer Chef Boyardee...I'll jump over 20 cases of spam for their ravioli...
37
posted on
10/05/2009 3:41:44 PM PDT
by
dragnet2
To: dragnet2
That also translates into an even “”Greater”” Depression. Maybe even....the “GreatEST Depression Ever.
38
posted on
10/05/2009 3:42:00 PM PDT
by
XenaLee
To: autumnraine
Not sure if it’s true, but I have read some plausible information about dollar dominance and it’s status as a reserve currency worldwide due to oil price traded in dollars. Iran has been threatening to establish an oil trading bourse for years. They may be behind this as well.
Having petro traded in another unit of currency would drastically devalue the dollar, according to the article.
39
posted on
10/05/2009 3:44:09 PM PDT
by
La.daddyrabbit
(Born and bred in the briar patch. Liberalism is the sickness, the Democratic party is the asylum.)
To: Liberty Tree Surgeon
Check again, it’s in red.
40
posted on
10/05/2009 3:44:09 PM PDT
by
autumnraine
(You can't fix stupid, but you can vote it out!)
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