Home > Economy, Foreign Affairs, Obama > Report: Gulf States in Secret Talks to Drop Dollar – Congrats, Obama. Less than a year and we are no longer a world power.

Report: Gulf States in Secret Talks to Drop Dollar – Congrats, Obama. Less than a year and we are no longer a world power.

Obama took us from a country that the world respected to a joke.  We are a shadow of what we were before he took over.  MAN, we have SO much work ahead of us undoing the damage he has caused this country.

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.

The report, written by leading journalist Robert Fisk, said Gulf states plan to transition the trading of crude oil over nine years from the U.S. dollar to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Cooperation Council, including Saudi Arabia, the United Arab Emirates, Kuwait and Qatar.

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

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: