PetroDollars no longer back by USD? Implications?
- Thread starter matador04
- Start date
Bernanke must prove him wrong by lower rates more.
If OPEC move away from USD then further dollar depreciation and economic inflation can be expected.
OPEC to look at impact of weak U.S. dollar
The oil-producing group responds to pressure to study the effect of the declining dollar, despite concerns that the move will further weaken the greenback.
Riyadh, Saudi Arabia (AP) -- OPEC will study the weak U.S. dollar's effect on the oil cartel's earnings and investigate the possibility of a currency basket, Iran's oil minister said Sunday.
"We have agreed to set up a committee consisting of oil and finance ministers from OPEC countries to study the impact of the dollar on oil prices," Gholam Hussein Nozari told Dow Jones Newswires at a rare heads-of-state OPEC summit.
http://money.cnn.com/2007/11/18/news/international/opec_oil.ap/index.htm?postversion=2007111815
OPEC to look at impact of weak U.S. dollar
The oil-producing group responds to pressure to study the effect of the declining dollar, despite concerns that the move will further weaken the greenback.
Riyadh, Saudi Arabia (AP) -- OPEC will study the weak U.S. dollar's effect on the oil cartel's earnings and investigate the possibility of a currency basket, Iran's oil minister said Sunday.
"We have agreed to set up a committee consisting of oil and finance ministers from OPEC countries to study the impact of the dollar on oil prices," Gholam Hussein Nozari told Dow Jones Newswires at a rare heads-of-state OPEC summit.
http://money.cnn.com/2007/11/18/news/international/opec_oil.ap/index.htm?postversion=2007111815
OPEC will not replace the dollar. However, they will force US Global Policy, they will dictate political activities in the USA, they will own infastructure and they will by Tech and Energy Companies located in the US.
US is for sale.
Life quality will continue to diminish, much like the dollar. A decade long slip will have us at PAR with Mexico.
US is for sale.
Life quality will continue to diminish, much like the dollar. A decade long slip will have us at PAR with Mexico.
Step in what?