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Wednesday, November 07, 2007

7 countries considering abandoning the U.S dollar

Check this out... link

My dad was telling me the other week, how middle east oil producing countries are considering a move away from the U.S dollar. Their whole economy is pretty much 'pegged' on the U.S dollar. With the fall of the dollar, their asset values pretty much declines as the dollar does.

Now on the free market, the U.S dollar will rise and fall against other currencies, just that this time around its falling sharply against ALL currencies. The article link above is brief, but worth the read.



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