The article said that Kuwait had already removed itself from the dollar peg a few months ago (I believe).
Yep...my reading on it is the same. Much of the market is speculations, so, they’d want to dump before they lose money values themselves......
All of this will further increase the lowering of the dollar value.....
OTOH, the article did state that it didn’t see how Saudi Arabia could realistically prevent investments into the U.S. (there’s always ways of funneling monies). But, I don’t see why very many would want to heavily invest, in the short term, in the U.S. in the near future.
I think they will hold off.....it would likely be an imprudent investment for awhile....given the fact that it’s likely the value of the dollar will continue to tank.
“But, I don’t see why very many would want to heavily invest, in the short term, in the U.S. in the near future.”
Let’s stop and think about this nicmarlo. We have self-professed conservatives and patriots pushing for cheap labor through CAFTA and china-trade. I ask the rhetorical question of ‘what the hell are they going to invest in’? At what rail-crossing did conservatism and patriotism get turned sideways? I kid you not, you’ve seen the posts as have I...people are pushing for cheaper labor in foreign countries so we get a cheaper product. Ok, so then tell me what SA is going to invest in...logistics companies?
Mini-rant off.