October 5, 2009

CHANGE: The Demise Of The Dollar: “In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.”

UPDATE: Jim Lindgren: “One aspect of having a multicultural president who doesn’t embrace American exceptionalism is that this administration seems to be ‘quite open’ to international proposals to replace — and thus undermine — the dollar.”

ANOTHER UPDATE: Arab states deny.

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