From The UK Independent:
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.
The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years. MORE
Obama and Congress seem more concern with sticking their snouts in the Treasury trough, than handling any of America’s international affairs. Whatever hot spots you look at on the international scene all you can see from this administration is minimal attention. An urgent request for more troops in Afghanistan is being delayed. Iran is going buck wild with their nuclear program and all we do is talk. Now China is positioning itself to replace us as the world’s sole superpower and all this administration and Congress can do is diligently work to shove an unwanted and expensive health care bill down our throats.
Keep in mind as these oil producing Arab states, China and our supposed "allies" work to replace the dollar with another, probably more expensive currency, Obama and Congress are readying their huge energy tax called Cap and Trade. It is almost like Obama and Congress are deliberately working against the nation.
On a final note, I just want to point out once again that this is another example of the world not having a Kumbaya moment because Obama was elected. The left is finding out the hard way that anti-Americanism wasn’t just a Bush phenomenon.
Via: The Independent