Monday, October 5, 2009

The Demise of Dollar

Dollar has been going up and down for the last recent months. However the latest news do not bring good news for US economics. The secret negotiations between Arabic states and France, Russia and China indicates that there will be a new currency -consisting of Yen, Euro and Gold- in the marker which determines the petrolueum prices.

"Iran announced late last month that its foreign currency reserves would henceforth be held in euros rather than dollars." (The Independent)


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