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re: ARABS PLOT TO DROP DOLLAR
Posted on 10/6/09 at 10:55 am to LSURussian
Posted on 10/6/09 at 10:55 am to LSURussian
Here's a post from BBH (via AcrosstheCurve) about this: [LINK]
1
Posted on 10/6/09 at 10:57 am to LSU0358
quote: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.
ARABS PLOT TO DROP DOLLAR
is a very important topic that you two probaly have opinions that would be worth hearing.
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.
Posted on 10/6/09 at 11:01 am to LSURussian
quote:
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.
I think it will be good too. It will finally spotlight how bad our politicians have been in fiscally managing this country.
Posted on 10/6/09 at 11:02 am to kfizzle85
That's a good article, kfizz.
When I worked in Kuwait last year the Kuwaiti's I was working with all were against a Gulf Common Currency. They all said they didn't trust the other Persian Gulf countries enough to put their currency into their hands. Seems like the Arabs don't trust each other....
quote:Yeah, that might be a small problem.
the Gulf Common Currency
the GCC does not exist
When I worked in Kuwait last year the Kuwaiti's I was working with all were against a Gulf Common Currency. They all said they didn't trust the other Persian Gulf countries enough to put their currency into their hands. Seems like the Arabs don't trust each other....
Posted on 10/6/09 at 11:08 am to LSURussian
quote:
I'm not naive enough to put all my faith in what he said
If everyone is planning on ganging up on the king of the hill they aren't exactly going to telegraph the move.
quote:
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.
We're the Saudia Arabia of coal and have plenty of alt energy tech in the pipeline. Our response to 9/11 should have been a drive to make oil worthless. That move would make even more sense if the middle east tries to cut us off at the knees now.
Posted on 10/6/09 at 11:12 am to LSURussian
Yeah, there's no way I could see that area forming up like the EU, for political and economic reasons. It might happen eventually, but there needs to be sea changes in politics (like no fricking kings maybe?), and that type of stuff takes decades.
This post was edited on 10/6/09 at 11:13 am
Posted on 10/6/09 at 11:13 am to LSURussian
quote:
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.
If it's gradual I agree with this. I think it'll force discipline with energy and fiscal policy.
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