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big trouble at mill: usd, page-34

  1. stolwyk
    22,691 Posts.
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    02/06/06
    09:30
    Post #: 1601033
    re: trouble at mill: selling oil for currencies Russia will open their Gold/Oil exchange on 8 July. Trading in rubles.

    Iran wants to trade oil in Euros and Venezuela intends to do so as well:

    http://www.chron.com/disp/story.mpl/ap/fn/3920101.html

    "Iran has an initiative that we support. They are going to start to do oil transactions in euros," Oil Minister Rafael Ramirez said in an interview with state television".

    If this eventuates, then this will cause difficulties for the USD as demand for dollars will decline.

    Wait and see.

    Gerry

    Value at posting: $0.00
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