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Petrodollar to be Replaced by Other Currencies?

posted October 6, 2009 - 4:08am
Petrodollar to be Replaced by Other Currencies?

A series of secret meetings between world finance ministers and central bank governers may lead to the end of dollar dealings for oil.  The intend is to move away from the petrodollar toward a group of currencies that would include the euro, the Chinese yuan, the Japanese yen, and gold.  It would also include a unified currency for Gulf states such as Saudi Arabia, Kuwait, Qatar, and Abu Dhabi.  This would be the most imortant financial shift in recent Middle East history, and may explain the recent rise in gold prices.


Article: http://www.independent.co.uk/news/business/news/th...


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It's probably inevitable to

It's probably inevitable to happen sooner or later. This was caused by the deteroriating value of the dollar, and will in turn create even more pressure on the greenback...

http://www.macrofind.com - we don't search, we find.

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