Whodunit? Sneak attack on U.S. dollar

Whodunit? Sneak attack on U.S. dollar

news.yahoo.com

It’s the biggest mystery in global finance right now: Who conducted a sneak attack on the U.S. dollar this week?

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 debt

(visit the link for the full news article)

The AP is saying that the news source claiming that China, Russia, and France have stopped trading the oil for dollars is false. They are mostly blaming weak journalism and drudgereport for spreading rumors. I noticed that gas prices went up ten cents today during a period of decline (the cheapest gas near me was 2.11 but now I saw it near 2.39 at the more expensive places). So what's going on here, are they just trying to cover the collapsing dollar or did someone really try to pull a fast one on the U.S. economy? I find it interesting that the AP at least admits the tanking dollar can not stand up to the rumors and of course they are looking to gold hoarders as the real culprit (but let's ignore the IMF the world's biggest holder of gold).

news.yahoo.com
(visit the link for the full news article)

reply to post by ancient_wisdom

It’s the biggest mystery in global finance right now: Who conducted a sneak attack on the U.S. dollar this week? It began with a thinly sourced but highly explosive report Monday in a British newspaper:

link

A look at the Independent article by Robert Frisk .

The plan to de-dollarise the oil market, discussed both in public and in secret for at least two years and widely denied yesterday by the usual suspects – Saudi Arabia being, as expected, the first among them – reflects a growing resentment in the Middle East, Europe and in China at America's decades-long political as well as economic world dominance.

Nowhere has this more symbolic importance than in the Middle East, where the United Arab Emirates alone holds $900bn (£566bn) of dollar reserves and where Saudi Arabia has been quietly co-ordinating its defence, armaments and oil policies with the Russians since 2007.

The Independent

Wasn`t there a deal made by the Saudi`s to sell their oil in Dollars, in exchange for the support of the U.S.A, is this shifting towards Russia / China ?



An interesting question posed by Robert Frisk ......

Such massive financial movements, encouraged by the de-dollarisation of oil, will have enormous political effects in the Middle East, especially if economic superpower rivalry between America and China comes to dominate the Arab world.

Will American economic support for Israel remain as loyal in nine years' time if China and the Arabs are setting the pace in global financial markets?

The Independent

sneak attack on us dollar? what? Why is it a "sneak attack" for other countries to want to use their own money to buy their own oil?

That's the problem with ATS. Even though a lot of ATS know the atrocities that the US has done, they still stand by the people who did them.

Oh, I could see this being just another way to manipulate oil prices. TPTB have tried everything to keep it fluctuating. This just looks like one more way to do it.

Just doing a little thinking out loud here...
What if it's our own Goverment destroying our dollar, so they won't have to pay the debt owed to China??
Hummm..Makes one wonder, dosent it?

Originally posted by radio_for_peace
sneak attack on us dollar? what? Why is it a "sneak attack" for other countries to want to use their own money to buy their own oil?

That's the problem with ATS. Even though a lot of ATS know the atrocities that the US has done, they still stand by the people who did them.

you didn't understand the article, the article is saying the news piece was a lie. I only used the stupid article headline because the stupid moderators want me to use the exact same stupid headline for some stupid reason. Rant over.

Ya think its a lie? It wouldn't surprise me one bit that the Saudi Banker interviewed in the video on the link page is lying to cover his butt.

You think only U.S. officials are capable of lying to the masses? It isn't the first time foreign powers have talked about changing to a more stable monetary source.

Now on the counter side, is this possibly a scenario of purposeful dis-info aimed at trying to force speculation and quick sell-offs of the dollar in return for gold as a sort of false flag to screw over the U.S. monetary system? Perhaps.

If the above scenario is the case it would be a case of terrorism. Not in the sense Bush-Cheney have programed your mind into picturing a Middle Eastern individual with over zealous religious views. Terrorism exists in many, many ways.

So I guess my point is, it doesn't matter if the banker is lying and countries never did meet, or if it was a false flag to make people think its happening.

Either way, cat is out of the bag and the issue of "should the U.S. dollar be used as the world currency" is no longer an issue floating around ATS or other alternative news sites, but it is now a MSM issue.

Should be interesting, good or bad, to see how this turns.


-Sliadon

Sneak attack? We have been talking about the demise of the dollar for years on ATS. Whodunit? US congress and the Federal Reserve borrowing and printing so much paper that it's starting to make investors worry about their US dollar assets and look at other options.

Something strange is going on, gas prices in the Houston area went up quite a bit - well over 2.00 per gallon from 1.80 (about a 30 cent increase in the period of a week with no news?).

What really concerned me was a trip to the grocery store and having my same old, usual order almost doubling in price. I'm still trying to figure out what happened there but it fits with how inflation has been "manipulated" as of late. Rather than a constant, slow rise in prices they seem to move in very sudden jumps of 25% or more.

Golds up, dollars up why are the prices going up?

This will have the same effect , if true .

Iraq to Deal Oil in Euros

October 09,2009 "AlterNet" -- You may remember that among the million and one reasons why we may have "really" gone into Iraq was this one, embraced mostly by alleged conspiracy theorists and silly leftists who thought that the invasion might have something to do with oil and the dollar:
UNITED NATIONS (Reuters) -- A U.N. panel on Monday approved Iraq's plan to receive oil-export payments in Europe's single currency after Baghdad decided to move the start date back a week.

Members of the Security Council's Iraqi sanctions committee said the panel's chairman, Dutch Ambassador Peter van Walsum, would inform U.N. officials on Tuesday of the decision to allow Iraq to receive payments in euros, rather than dollars.

Today, there is a lot of chatter about this:

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.

Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.

Nobody knows for sure that this is happening, but if it is, it's a profound change, and one that may have simply been put off by our little six year adventure in the middle east.

Ian Welsh unpacks what this would mean for all of us over at C&L. Shorter Ian: for a lot of reasons, "it will hurt."

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