[La Lydia]

Robert Fisk. All unnamed sources. What's that I smell?

[2banana]

1. Not much of a secret if I can read it on this blog.

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.

[blam]

Robert Fisk...Anti-American POS!!

[americanophile]

Euros then? Let's hope this isn't true, but if so, Obama can certainly put a feather in his cap for ending American financial dominance and making us an equal in the world.

[rjp2005]

“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.

[PGR88]

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.

[Billthedrill]

Oh. Fisk. I wouldn’t have given the article a second thought had I known it was written by Robert Fisk.

[ponder life]

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.

[Mariner]

IF they drop the dollar, we should impose a $40/bbl tariff on every barrel of imported oil. Every single one.

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!