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Saudi Arabia Threatens To Drop Dollar For Oil Trades
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 64985415:MV80MDEzMDYxXzcyNjU3MjM3X0UxMjIwMjM0] [quote:Remedial_Rebel:MV80MDEzMDYxXzcyNjUyMTc3X0IwRDY4OTVC] [quote:Anonymous Coward 64985415:MV80MDEzMDYxXzcyNjUyMDM2X0EyN0YxNkZF] [quote:Remedial_Rebel:MV80MDEzMDYxXzcyNjUxNzIzX0RDRjQ2QTVC] [quote:15666.44:MV80MDEzMDYxXzcyNjUxNjMzX0M0MkQzMTJE] The US is the #1 oil producer in the world and SA's wells are drying up so MEH! :MEH-kitty: [/quote] Much of the dollar's value is based on being the world's #1 reserve currency. Even if oil trade with SA continues to drop, SA trade with other nations will continue. If SA followed through on their threat, other OPEC countries would follow SA's lead. [/quote] No they wont, we will invade before we lose power. You really have no clue. USA will NEVER relinquish power. We have military bases all over the world for a reason, and its not to play baseball. [/quote] Like they invaded in the 1973 (so called) Oil Crisis? Try reading a little history. [/quote] I suggest you try reading a little history of US invasions and overthrows since 1990. [/quote]
Original Message
Saudi Arabia has threatened the United States to stop using dollars for its oil trades in an attempt to discourage legislators from passing a bill dubbed NOPEC aimed at holding OPEC liable for cartel practices under U.S. law.
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link to finance.yahoo.com (secure)
]
The US petro $ not looking so good.
Maybe the Fed should you stop quantitative easing. Just maybe.
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