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Originally posted by stander
If the dollar is collapsing, how come it is in such a demand?
Originally posted by Pinktip
The US Dollar will get it's death blow once OPEC decides it will accept other countries sovereign currencies as a means to purchase oil.
Right now, the Dollar is the only currency used for oil purchase. Once that ends, well..
Lindsey Williams June 08'........"Oil will be brought down to ~$50/b and the dollar will be dropped...."
www.abovetopsecret.com...
ARAB GOALS & MOTIVES
Arabs clearly lust to control and manage a global gold trading center. It will be in Dubai in the United Arab Emirates. The new Gulf dinar currency will pave the road to that center. The Gulf Coop Council is biding time, cutting time delay deals, warding off pressure by the USGovt, appeasing with weapons contracts from the USMilitary, and is working behind the scenes to create a new dinar currency. The new Gulf dinar is likely to be primarily gold in its backing. So, foreign nations will soon be forced to purchase the dinar for all or most of crude oil payments. This forces the purchase of gold in order to purchase crude oil. The demand for gold will thus fortify the global banking system, by means of commodity settlements. Many details are unknown, but the basic structure has been slowly come to light. A new motive flashes red in front of Arabs to institute some changes FAST. The crude oil price is down, cut in half from July. Their revenues are sharply reduced. Russia figures into the complex deal to launch the dinar. The Saudis and small sheikdoms need security protection. The next chapter will involve protection amidst a gold-backed currency, not a military-backed currency, in Saudi eyes.
Originally posted by anachryon
It would just be coordinated hyperinflation and the only industry that would make out well would be wheelbarrow manufacturers.
Originally posted by rtcctr
...if i got this right then the Bailout actually hurt more than helped
Originally posted by redhatty
The US Dollar will get it's death blow once OPEC decides it will accept other countries sovereign currencies as a means to purchase oil.
Gulf Arab oil producers said they had already taken adequate steps to deal with the impact of the global financial crisis but that turmoil on world markets had given new urgency to their plan for monetary union.
"The likely effects of the global crisis we can deal with through the measures we have already taken," Qatari Minister of Finance Youssef Kamal said after the meeting in the Saudi capital, Riyadh.
"The crisis proves how much we need a single currency and that a single central bank should be a supervisory body."
Originally posted by Mdv2
Originally posted by stander
If the dollar is collapsing, how come it is in such a demand?
Just read this:
The U.S. Dollar Death Dance