Tuesday, Mar 27, 2007
Who do you think you are kidding Mr Dollar.....?
Scotsman: China shifts to euros for Iran oil
Oh my, oh my. Looks like this is the final act after all. What do you think our inflation rate will be once the USD backed GBP collapses?
20%, 30% 80% p.a.?
Posted by lvmreader @ 11:25 PM (167 views) Add Comment
6 Comments
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1. Surfgatinho said...
"The U.S. trade and current-account deficits may shrink this year as a percentage of economic output because of "strong export growth" and lower oil prices, Bernanke told Shelby."
Hmmmm!
2. royston said...
IMHO, this global shift away from dollar reserves has the whiff of something very significant about it.
Is it too late for to join the euro?
3. sirgoogle said...
As expected - but later than predicted, the shift of the Reserve currency has started. Also see the shift away from the Dollar by the Gulf states.
I thing the BoE will have an interesting time with interest rates over the next few months trying to save the pound
4. Houseoflords said...
Venezuela next?
My Euro account should be open this week - sooner the better. Just need Merv to get the markets thinking they might put rates up again for a couple of days...:-)
5. waitingfor hpc said...
where have you opened a euro account? i want one too.
6. dohousescrashinthewoods said...
Me too