Whodunit? Sneak attack on U.S. dollar
Politico via Yahoo! News
08-Oct-2009 (2 comments)

It began with a thinly sourced but highly explosive report Monday in a British newspaper: Arab oil sheiks are conspiring with the Russians and Chinese to quit using the dollar to set the value of oil trades — a direct threat to the global supremacy of the greenback.

Is it true? Everyone from the head of the Saudi central bank to U.S. officials scrambled to undercut the story, but no matter.

With the U.S. economy on the ropes and America by far the world’s biggest debtor, investors aren’t feeling as secure about the dollar as they used to. And the notion of second-tier economies ganging up on Uncle Sam didn’t sound so far-fetched.

recommended by Ostaad



Cap, we may have to use a magnifying...

by Ostaad on

to find the shrinking dollar.

PS, I replied to the "economist gone wild" and left it at that. 


Did you miss it?

by capt_ayhab on

Well dude, seems like you and politico/yahoo news both missed it. The force behind preventing the attack on $ was the capitalism thread written by our renowned economist.

How could miss it ? lool