Oil leaders' private debate televised by mistake

The Observer, The Guardian (Great Britain) ^ | 18NOV07 | Tim Webb in Riyadh

[familyop]

Saud al-Faisal, the Saudi foreign minister, warned that even the mere mention to journalists of the fact that leaders were discussing the weak dollar would cause the US currency to plummet. Unfortunately his words and those of everyone at the meeting were being broadcast via a live television feed to a group of astonished reporters.

[familyop]

...true! Our treasury folks recently told Germany that they’re in favor of a strong dollar and implied that they will prop it up. They would be far wiser, IMO, to try to ease into what’s to come sooner or later (oil much higher and the dollar much lower).

Oh, yeah. “I’m in favor of a strong dollar. Dollar, I command thee, get thee up!” [Dollar goes higher.] “See? We tried, and the dollar is still falling. We even tried Viagra.”

[familyop]

Oops. Correction:

“[Dollar goes lower.]” And it will, IMO, given the inevitabilities of international trade. ...might bump up a time or two, but all-in-all, it will fall. I, for one, hope to see it happen gradually rather than suddenly.

[VxH]

[Oops. Correction: “[Dollar goes lower.]” ]

 

Been reading from the Fed's operating manual have you?

[arthurus]

It may have been a mistake.It may have been a tactic.

[familyop]

"Been reading from the Fed's operating manual have you?"

Yes! That was the brainwashing kicking in momentarily. ;-)

[Philly Nomad]

No, the weak dollar has nothing to do with our oil consumption. It’s has to do with runaway spending and a Central bank with it’s head in the sand.

This isn’t the fault of the Chinese, Saudis, Soros or Iranians, this is the fault of the Republicans who cut taxes while increasing spending.

[AFreeBird]

Well, that's a big "OOPS". Look for the technician to be the next target of a suicide bomber.

Fixed it for ya. ;)