I do not recall any discussions in this forum regarding Iraq's decision (in Nov 2000) to change from the USD to the Euro as the settlement currency for it's oil sales, as well as their shift of the UN held 10 billion in reserves from USD to Euro. (Note: It may have been an emotional decision at the time, but Saddam has made approx 18% gains since implementing the policy)
I also understand that Iran is contemplating a similar shift (did you notice Bushie mentioned Iran during his state of the union address?).
Further, I've heard that the Saudi's are planning to introduce a gold coin (Dinar)later this year while also playing with the idea of settling oil payments in gold.
All of this has to have the masters of the US fiat currency quite concerned about USD hegemony. If the world doesn't continue to trade in USD's, then how in the hell are the 'string pullers' supposed to finance all this debt?
Comments.
_________________________________ Steven