Thursday, October 8, 2009

Dollar threatens complete collapse

Experts predict collapse of American currency if verified speculation that the country's Persian Gulf in collaboration with Russia, China, Japan and France to replace the dollar to other currencies in oil trading

Countries Persian Gulf, the largest exporting oil in the world, water, secret negotiations with Russia, China, Japan and France that for nine years, replacing the dollar "basket of currencies, which will serve the trade in black gold, writes the newspaper" Independent ". Analysts say that in this case already weakened the U.S. currency was completely defeated.

Proposal of the Persian Gulf countries and their "allies" consists in the fact that the dollar, which is used as a means of accrual in trade in oil, for nine years, replacing the currency basket in which to enter the Japanese yen, Chinese yuan, the euro, gold and the new joint currency you intend to bring to market the member states of the Council for Cooperation in the Persian Gulf.

The average value of the dollar

2005th $ 1 - 0.80 Euro
2006th $ 1 - 0.78 Euro
2007th $ 1 - 0.73 Euro
2008th $ 1 - 0.68 Euro

The average value of the dollar in 2009.

January 1 dollar - 0.75 euros
February 1 dollar - 0.78 euros
March 1 dollar - 0.76 euros
April 1 dollar - 0.75 euros
May 1 dollar - 0.73 euros
Jun 1 dollar - 0.71 Euro
Jul 1 dollar - 0.70 euros
August 1 dollar - 0.70 euros
sept. $ 1 - 0.68 Euro

This news was conveyed correspondent "Independent" from the Middle East Robert Fisk. He is in his report called for resources from countries of the Persian Gulf, including Saudi Arabia, United Arab Emirates, Kuwait and Qatar, as well as the sources from the Chinese banking circles in Hong Kong.

Secret meetings

- Finance ministers and heads of central banks of China, Russia, Japan and Brazil have held secret meetings, and based on the conclusions of these meetings with the price of oil will no longer express the dollar as now. In these negotiations, and France participated. Brazil and Venezuela are separate initiatives but expressed a desire to participate in the new calculation method for calculating the price of oil. Anyway, Iran is several years ago began to determine the price of greater export of oil in other currencies, primarily the euro, but the real price of these raw materials are still determined in dollars - said the "Independent".

The reaction to the news that the newspaper was told is fast, since the world financial experts are meeting in Istanbul, which is related to the future of the International Monetary Fund.

In the future it will be all classlessness and other options in the next 20 years the dollar will face increasing competition from the euro and Chinese yuan ... Robert Zelik, president of the World Bank

Governor of Central Bank of Saudi Arabia Yasser Al said that the report is absolutely incorrect.

A similar response was given by Deputy Finance Minister of Russia Dmitry Pankin, who said he was not on call.

However, in the writing of "Independent" is true and confirmed the Algerian Finance Minister Karim Đudi, who said that oil producers need to stabilize their income and are therefore at a meeting of the IMF, where they talk about everything.

All the stronger Chinese yuan

If the forecast made "Independent", according to economists, the dollar would not only ceased to be the number one currency in the world, but this would lead to its complete collapse.

In a similar thing and warned the World Bank President Robert Zelik at the recently held a speech at the University of Washington. He then said that the U.S. was wrong when taken for granted that the dollar the dominant world currency.

The historical value of gold

News correspondent reported that the "Independent" from the Middle East Robert Fisk has caused a drastic decline in the dollar on world exchanges, while at the same time, gold prices jumped to historic records.

Gold on the London stock market jumped from 1038 to 1046 dollars per ounce. On the other hand, the dollar has fallen to 0.67 euros.

- In the future it will be all classlessness and other options in the next 20 years the dollar will face increasing competition from the euro and Chinese yuan - is predicted in his speech Zelik.

According to him, although the Chinese authorities do not currently use a lot of its currency in international transactions, it is obvious that gradually retrieve all the larger control over financial flows. Zelik believe that Juan could turn into a real force in world financial markets, which would have caused a new financial order.

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