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re: ARABS PLOT TO DROP DOLLAR

Posted on 10/6/09 at 10:52 am to
Posted by LSU0358
Member since Jan 2005
7920 posts
Posted on 10/6/09 at 10:52 am to
Can you and Rivers take your pissing match on gold to another thread. This:

quote:

ARABS PLOT TO DROP DOLLAR


is a very important topic that you two probaly have opinions that would be worth hearing.
Posted by LSURussian
Member since Feb 2005
127276 posts
Posted on 10/6/09 at 10:57 am to
quote:

ARABS PLOT TO DROP DOLLAR



is a very important topic that you two probaly have opinions that would be worth hearing.
CNBC interviewed one of the Arab ministers this morning (it's probably on their website) and he vehemently denied they are in any discussions to sell their oil in any other currency than dollars. I'm not naive enough to put all my faith in what he said, but he came across as rational.
IMO, it would not be totally bad if it eventually happened. I think it would force the U.S. into more discipline when it comes to energy conservation. Just look at how gas consumption dropped off the cliff last summer (2008) when gas went over $4/gallon.
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