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Old 10-06-2009, 03:49 AM
 
27,089 posts, read 44,427,195 times
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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.

Report: Gulf States in Secret Talks to Drop Dollar - International News | News of the World | Middle East News | Europe News - FOXNews.com


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.
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Old 10-06-2009, 04:41 AM
 
Location: Near the water
8,237 posts, read 12,795,083 times
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Quote:
Originally Posted by bentlebee View Post
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.

Report: Gulf States in Secret Talks to Drop Dollar - International News | News of the World | Middle East News | Europe News - FOXNews.com


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?
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Old 10-06-2009, 05:12 AM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,242 posts, read 23,509,435 times
Reputation: 3587
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.
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Old 10-06-2009, 06:11 AM
 
23,126 posts, read 21,123,748 times
Reputation: 13710
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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Old 10-06-2009, 06:21 AM
 
Location: Raleigh, NC
20,056 posts, read 17,507,392 times
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The dollar will collapse because of both Bush and Obama and their budget busting spending bills.
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Old 10-06-2009, 07:00 AM
 
Location: By the sea, by the sea, by the beautiful sea
67,188 posts, read 50,193,747 times
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Doesn't sound very secret to me when the usual fear-mongering suspects are blathering about it
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Old 10-06-2009, 07:50 AM
 
Location: Upstate
8,244 posts, read 8,428,735 times
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Quote:
Originally Posted by Icy Tea View Post
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.
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Old 10-06-2009, 07:52 AM
 
48,503 posts, read 92,819,840 times
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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.
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Old 10-06-2009, 08:10 AM
 
Location: Raleigh, NC
20,056 posts, read 17,507,392 times
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Gold is up to $1,040 on the news. Australia is also raising rates to curb inflation.

http://money.cnn.com/2009/10/06/news/international/australia_rates.reut/index.htm?postversion=2009100605 (broken link)
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Old 10-06-2009, 08:46 AM
 
Location: Texas
38,863 posts, read 23,919,147 times
Reputation: 24780
Quote:
Originally Posted by bentlebee View Post
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.

Report: Gulf States in Secret Talks to Drop Dollar - International News | News of the World | Middle East News | Europe News - FOXNews.com


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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