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The world's oil producers, as well as China, Japan and France, are in secret talks to end the use of the U.S. dollar to buy and sell crude oil, a British newspaper reported on Tuesday, sending the American currency lower in overseas trading.
"Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars," said the report in The Independent, which cited unidentified sources in the Gulf and Hong Kong. It added that France had also been involved in the talks.
Is that what is happening under Obama.....America going to be from one of the most powerful countries to the laughing stock of the world. OMG, this can't be happening.
The world's oil producers, as well as China, Japan and France, are in secret talks to end the use of the U.S. dollar to buy and sell crude oil, a British newspaper reported on Tuesday, sending the American currency lower in overseas trading.
"Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars," said the report in The Independent, which cited unidentified sources in the Gulf and Hong Kong. It added that France had also been involved in the talks.
Is that what is happening under Obama.....America going to be from one of the most powerful countries to the laughing stock of the world. OMG, this can't be happening.
Something of this magnitude didn't begin when obama took office, this has been brewing for a very long time. The threats were actually being tossed when babybush was sitting in our house, and he didn't do much did he?
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
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It does not mean anything except that more and more oil is being bought by places other than the USA and they want their money accepted too. If you own a business and the majority of your customers have Euros or Yuans, you want to accept those currencies. At one time the USA consumed a large percentage of the oil and it made sense to price it in US dollars. It doesn't anymore. I am surprised they did not do this long ago.
Obama is driving down the dollar and they're worried he's going to keep doing it at breakneck speed. Yes, it makes sense. It should also be a wake up call that we are really screwing up our long term economic outlook with this boob in the Whitehouse.
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"I'm not MAGA, I'm an American!"
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Location: Upstate
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Quote:
Originally Posted by Icy Tea
Obama is driving down the dollar and they're worried he's going to keep doing it at breakneck speed. Yes, it makes sense. It should also be a wake up call that we are really screwing up our long term economic outlook with this boob in the Whitehouse.
With the Federal Reserve printing over $600B a year, to give to bankers and brokers who then buy T-bills, the value of the dollar falls due to over supply.
Countries that hold T-bills and dollars are starting to speak up, China for example has lost hundreds of billions of dollars.
Our deficit has increased to $9 Trillion and Obama and Congress has done nothing to slow it down.
Obama is now pushing a Trillion dollar healthcare program and is rubbing the world's concerns about our dollar dropping in their faces. Obama simply doesn't care that the dollar is dropping and the value of other country's holdings is also dropping.
As long as the saudis are tied to the US for providing stability in the middle east they will price crude in dollars. The more that people have invested in dollars like now the more its in their interest to keep the dollar.Frwnce certainly is i no way with thier economy to do anyhting since the ratio of their GDP to spending on government is so high which is why they could not do much of a stimulus.
The world's oil producers, as well as China, Japan and France, are in secret talks to end the use of the U.S. dollar to buy and sell crude oil, a British newspaper reported on Tuesday, sending the American currency lower in overseas trading.
"Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars," said the report in The Independent, which cited unidentified sources in the Gulf and Hong Kong. It added that France had also been involved in the talks.
Is that what is happening under Obama.....America going to be from one of the most powerful countries to the laughing stock of the world. OMG, this can't be happening.
There certainly are a number of bitter, unhappy posters who frequent this forum, hoping for the worst for our country. They are best left to stew in their own bile.
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