OPEC Interested in Non-Dollar Currency - Netscape Money & Business

Posted: 11/18/2007 by Floyd in Labels:
5

OPEC seems to be considering a non-dollar currency according to this report, with Iran issuing a blistering statement;
RIYADH, Saudi Arabia (AP) - Iranian President Mahmoud Ahmadinejad said Sunday that OPEC's members have expressed interest in converting their cash reserves into a currency other than the depreciating U.S. dollar, which he called a ``worthless piece of paper.''

Saudi Arabia opposed a move by Iran to have OPEC include the concerns over the falling dollar to be included in the summits closing statesments, the Saudi's seemed concerned that even talk about the dollar could further it's decline. On Sunday Saudi Arabia seems to have comprimised on the issue and voiced this statement; But by Sunday, it appeared that Saudi Arabia had compromised. Though the final declaration delivered Sunday did not specifically mention concern over the weak dollar, the organization directed its finance ministers to study the issue.

In other words it is left open as something to be looked at.
OPEC Interested in Non-Dollar Currency - Netscape Money & Business

5 comments:

  1. Jim says:

    Heckuva job, W !

    (read Markos in Newsweek - he points out how the President is the "embodiment of conservatism" as he rapidly takes apart our armed forces, government and economic standing)

  1. We along with the dollar have grown to almost nothing when compared to the rest of the world.

    Thanks George Bush, you have managed to bring the country and the dollar down to almost nothing.

    I've started back to blog Floyd and if you get the time let me know what you think of my first post at
    Let's Talk About It.

  1. Floyd says:

    Hello my friends just got around here, been checking how many FTA channels out there so I can lighten my budget by 52 bucks.

    Thanks for the heads up Jim and let's talk, I will be over. You know when you think of it the dollar moves America and it has been falling for awhile, it will only get scarier.

  1. Larry says:

    Could this be part of the ultimate plan to rid the world of the dollar, and usher in the New World Order style of chip payments.

  1. Floyd says:

    I know what you are saying Larry and it could be, hope not.