OPEC interested in non $US currency
 

Obviously this call at the OPEC heads os state summit in Riyadh on Sunday was led by Ahmadinejad and Chavez, but if they can get past the brown-nosing King Abdullah and start trading oil in a basket of non-USD currencies (read less soft currencies) then this could put huge selling pressure on the USD. I wonder what the Chinese and Japanese would do with all their holdings if this were to happen?


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'They get our oil and give us a worthless piece of paper,' Ahmadinejad told reporters after the close of the summit in the Saudi capital of Riyadh. linkage

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The man does, after all, have a point.

Re: OPEC interested in non $US currency
 

Oil will raise tomorrow...

Re: OPEC interested in non $US currency
 

The bombing of Tehran will commence shortly.

Re: OPEC interested in non $US currency
 

Considering that oil has doubled in price and the dollar is only down about 15% in the same time, I don't think the old king should be complaining.

Re: OPEC interested in non $US currency
 

[ QUOTE ]

[ QUOTE ]
'They get our oil and give us a worthless piece of paper,' Ahmadinejad told reporters after the close of the summit in the Saudi capital of Riyadh. linkage

[/ QUOTE ]

The man does, after all, have a point.

[/ QUOTE ]

Yes, the US currency dropping in value makes it worthless. Can I roll my eyes now?

Re: OPEC interested in non $US currency
 

What do you guys think about this:

http://www.forbes.com/markets/feeds/...fx4348464.html