PetroDollars no longer back by USD? Implications?

Discussion in 'Economics' started by matador04, Nov 18, 2007.

  1. Bernanke must prove him wrong by lower rates more.
  2. [​IMG]
  3. Iranian President Mahmoud Ahmadinejad .......... the depreciating U.S. dollar, which he called a "worthless piece of paper."

    He'll probably win the Nobel Peace Prize in economics next year.
  4. If OPEC move away from USD then further dollar depreciation and economic inflation can be expected.

    OPEC to look at impact of weak U.S. dollar
    The oil-producing group responds to pressure to study the effect of the declining dollar, despite concerns that the move will further weaken the greenback.

    Riyadh, Saudi Arabia (AP) -- OPEC will study the weak U.S. dollar's effect on the oil cartel's earnings and investigate the possibility of a currency basket, Iran's oil minister said Sunday.

    "We have agreed to set up a committee consisting of oil and finance ministers from OPEC countries to study the impact of the dollar on oil prices," Gholam Hussein Nozari told Dow Jones Newswires at a rare heads-of-state OPEC summit.
  5. too funny. dow 5k here we come.
  6. OPEC will not replace the dollar. However, they will force US Global Policy, they will dictate political activities in the USA, they will own infastructure and they will by Tech and Energy Companies located in the US.

    US is for sale.

    Life quality will continue to diminish, much like the dollar. A decade long slip will have us at PAR with Mexico.
  7. ron2368


    How in the world did OPEC notice???? Gas prices will be up a dollar at least by next summer. The president needs to step in.
  8. Step in what?
  9. jd7419


    Give me a break.
    #10     Nov 18, 2007