Anonymous Coward User ID: 802656 United States 12/16/2009 11:23 AM Report Abusive Post Report Copyright Violation | Gulf petro-powers to launch currency in latest threat to dollar hegemony Oh oh: The Arab states of the Gulf region have agreed to launch a single currency modelled on the euro, hoping to blaze a trail towards a pan-Arab monetary union swelling to the ancient borders of the Ummayad Caliphate. The Gulf monetary union pact has come into effect,” said Kuwait’s finance minister, Mustafa al-Shamali, speaking at a Gulf Co-operation Council (GCC) summit in Kuwait. The move will give the hyper-rich club of oil exporters a petro-currency of their own, greatly increasing their influence in the global exchange and capital markets and potentially displacing the US dollar as the pricing currency for oil contracts. Between them they amount to regional superpower with a GDP of $1.2 trillion (£739bn), some 40pc of the world’s proven oil reserves, and financial clout equal to that of China...." [ link to www.telegraph.co.uk] Our dollar hegemony is about to expire go long bicycles and walking shoes. |
Anonymous Coward User ID: 706880 United States 12/16/2009 11:25 AM Report Abusive Post Report Copyright Violation | Re: Gulf petro-powers to launch currency in latest threat to dollar hegemony This is real doom. |
Anonymous Coward User ID: 771533 United Kingdom 12/16/2009 11:25 AM Report Abusive Post Report Copyright Violation | Re: Gulf petro-powers to launch currency in latest threat to dollar hegemony A great day for the world economy, not so good for us Brits or the US, I hope we join the euro soon ffs. |
Anonymous Coward (OP) User ID: 802656 United States 12/16/2009 11:27 AM Report Abusive Post Report Copyright Violation | Re: Gulf petro-powers to launch currency in latest threat to dollar hegemony Pin? |
Anonymous Coward User ID: 831206 United States 12/16/2009 12:27 PM Report Abusive Post Report Copyright Violation | Re: Gulf petro-powers to launch currency in latest threat to dollar hegemony |
Anonymous Coward User ID: 842382 United States 12/16/2009 12:34 PM Report Abusive Post Report Copyright Violation | Re: Gulf petro-powers to launch currency in latest threat to dollar hegemony America should kick the Brit Fed out and launch a new American currency.
But no we're too busy trying to get Brit puppet Barry's nation wrecking agenda thru a spineless congress. |
Anonymous Coward User ID: 554016 United States 12/16/2009 04:23 PM Report Abusive Post Report Copyright Violation | Re: Gulf petro-powers to launch currency in latest threat to dollar hegemony This needs a pin.
or you can just wait till TSHTF and not warn anyone. |
Anonymous Coward User ID: 554016 United States 12/16/2009 05:04 PM Report Abusive Post Report Copyright Violation | Re: Gulf petro-powers to launch currency in latest threat to dollar hegemony You know last time a country wanted to sell thier oil for something other than dollars it was Iraq selling oil in Euros, Then we invaded. |