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Soon we will see

The demise of the dollar – Business News, Business – The Independent (6 October 2009):

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.

According to the article Iran decided last month to move its reserve currency from dollars to euro. When Iraq did this, it was promptly invaded. Now that China has considerable energy co-operation and deals with Iran, we will soon see if USA and/or Israel are (still? already?) willing to go directly against China.

One Comment

  1. Apina wrote:

    Ilmeisesti juurikin tuo artikkeli (tai muut vastaavat) vaikuttivat tähän:

    http://news.bbc.co.uk/2/hi/business/8292011.stm

    Ja kuten artikkelissa joku mainitsi tämä tulee varmasti näkymään myös “denial” kommentteina:

    http://www.bloomberg.com/apps/news?pid=20601068&sid=acJkUoNt0rEY

    Wednesday, October 7, 2009 at 12:45 am | Permalink

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