Robert Fisk...Anti-American POS!!
Posted on 10/06/2009 11:09:18 AM PDT by La Lydia
The world's oil producers will continue using the U.S. dollar as the currency for buying and selling crude, high-ranking oil and finance officials in the Gulf said on Tuesday, denying a report in a British newspaper. Earlier, The Independent reported that Gulf Arab states, as well as China, Russia, Japan and France, are in secret talks to end the use of the U.S. dollar to trade oil, causing the American currency to fall in overseas trading Tuesday.
Qatar's oil minister, Kuwait's finance minister and sources in the United Arab Emirates and Saudi central banks all denied the report...
The newspaper report said, "Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars."...
Written by leading journalist Robert Fisk, the report said Gulf states plan to transition the trading of crude oil over nine years from the U.S. dollar 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 Cooperation Council...
U.S. officials, which are "sure to fight this international cabal," are aware the secret meetings have taken place but have not fully discovered all of the details, the newspaper said.
The report cited an unnamed Chinese banker as saying the plan "will change the face of international financial transactions. America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate..."
In wake of the report, the U.S. dollar fell against six major currencies on Tuesday.
(Excerpt) Read more at foxnews.com ...
2. Any country can sell every dime of US Currency in literally seconds on the FOREX exchange. They can do this today. And it is open 24/7. This is a made up issue.
Robert Fisk...Anti-American POS!!
“and a new, unified currency planned for nations in the Gulf Cooperation Council, including Saudi Arabia, the United Arab Emirates, Kuwait and Qatar.”
More like the Iranian dollar the way we’re conducting foreign policy these days.
Gulf-States will be the LAST to dump the dollar.
They know the USA is the last and only defense preventing Iran from marching through their streets tomorrow.
>> Robert Fisk...Anti-American POS!!
Wow... that “fisking” he got at the hands of his muzzie “supporters” sure took a toll on his boyish good looks, didn’t it?
I thought the sun had set on this one. Wish he’d crawl back under a rock someplace else.
Yes. The one who was attacked and critically injured by terrorists, and then wrote an article defending their actions. A man so witless he couldn’t even stand up to his own enemies in defense of his own survival. He went to Afghanistan, was nearly killed by the Taliban, and wrote: “If I Was an Afghan I Too Might Have Attacked Robert Fisk”!
If the deal (if such a deal exists) involves Russia, then the A-rabs would need to get assurance that Putin would keep Iran in check.
At some point I would EXPECT that the Wahhabis will abandon the US and seek protection from another power.
Oh. Fisk. I wouldn’t have given the article a second thought had I known it was written by Robert Fisk.
He is supposed to be such a great reporter, but his entire original article was based on “unnamed sources.” I thought he was such a Bush hater that he would shut up after BO was elected, but I guess not. His newspaper should be ashamed of itself.
The retreat of the dollar as the international currency will be over a long period of time and in many ways, rather painless. One only has to look at the rise of the EURO. The dollar used to buy 1.5 Euros and now only buys .68 Euros. And the dollar used to buy 300 yens, but now only buys 100 yens. So, the decline of the dollar is already happening with the advent of the Euro.
The drop in demand would topple every mid-east regime which now produces oil.
Of course, we'd need to release oil sands, off-shore drilling, assure a PRICE for coal-oil conversion etc.
Hell, we ought to do all of those things anyway!
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