Gulf Arab states to abandon the dollar?

Gulf Arab states to abandon the dollar?

I think the dollar is in for a long and hard road ahead. If other (non-GCC) countries (like China) facing similar problems with exported inflation decide they need to unpeg their currencies from the dollar, the USA is going to hit some really hard times.

 

I don't believe the Gulf States are in a position to abandon the US$ Greenbacks just yet. Because if they do, then the US Administration will flood the Market with cheap Alaskan North Slope Oil, in effect destroying the Arab economies, who are mostly dependent on Oil Trade.

Listen to this part of lecture delivered by Pastor Lindsey Williams. http://www.youtube.com/watch?v=ZKCyCYz_aHY

You can watch the entire 8-part lecture (YouTube) on the page http://www.informationpile.com/peak...unning-dry-peak-oil-or-corporate-fabrication/

this here is very important information... Why hasn't any US administration allowed to bring the Alaskan North Slope Oil to the US shores? The reason is political, not environmental. Pastor Lindsey Williams worked with the Top honchos of the Oil industry for many years. You must hear him out.

IMHO, Gulf States won't quit using the US$ for oil transactions just yet.

 

The US Government has given the GCC the green light to abandon the dollar. They are in effect saying there will not be any retaliatory repercussions.

I don't know anything about the North Slope Oil.

As each GCC nation abandons the dollar, it will increase inflation pressures. Qatar and the UAE will have small individual effects, but Saudi Arabia will likely be significant from what I understand.

 

What do you feel would be the effect on US dollar strength if the GCC abandons it? US dollars are regarded as a Global currency because all countries use US dollars to buy Oil. When that is no longer the case, then countries will start hoarding Euros and dump US Dollars on the international market, and that would be suicidal for the US economy.

That is the reason it is hard to believe the US Adminstration has given a green signal to the GCC countries to abandon the US $$$...

The Arab governments depend on the Americans to support and prop-up their autocratic governments. They have a secret deal with the United States, where the US buys up all their oil, and they in turn buy up all the American debt and trade Oil in US$. That is what is keeping the US $ afloat in the currency markets, and gives the US administrations to indulge in military adventures around the world.

In the sources I'd mentioned above, there is a link to important information about the Saudi-US deal. There are a series of videos by Pastor Lindsey Williams who has worked with the top honchos of the Oil corporations around the world, and has revealed Insider information on this subject.

You can also check out the movie "Syriana", and it correctly portrays how the oil corporations are using Saudis and other Arab countries as mere tools to further their profits.

Lets keep our eyes open and watch how this situation ans out. The Iranian Oil Bourse which began in 2006 to replace the USD$ for oil trade has not really succeeded in a big way.

P. S. - http://en.wikipedia.org/wiki/Alaska_North_Slope

 

Some believe (may be conspiracy) that abandoning the dollar is the first major step to a NAU and an Amero. It's hard to rationalize how far the dollar has been destroyed, or how it will make any sort of meaningful comeback in the next 20 years. Perhaps the writing on the wall was put up on purpose.

 

Just try to connect the dots...

In the Year 2015, the US$ Greenback crashes under heavy load of foreign debt. The US government cannot even pay the interest on this foreign debt.The entire North American continent is affected by this great depression. Real Estate Housing markets in Canada, USA and Mexico crash.

In the Year 2016, a new President is elected to the White House. A rescue plan is drafted to save the economy, according to which USA needs Cheap labour to attract industries which have shifted to India and China, and a new stronger currency. Canada and Mexico

In the Year 2017, A new school of thought has emerged, which declares, "One lone Nation cannot compete in the Global economy against Unions in Europe, Asia and Africa, just like a self-employed professional cannot compete against Corporations, just like a local grocery store cannot compete against Walmart... There is a need to Unify the continent, sharing profits and risks."

Sovereignty of nations is discarded as an old, obsolete concept.

In the Year 2018, following on the heels of the European Union, North American Union is formed. The US dollar, Canadian Loonie and Mexican Peso is replaced by a single currency - The Amero
-------------------------------
OK, good story...
I have written it down in http://northamericanunionblueprint.wordpress.com

 

Caught this through the infowars stream....

http://www.gulf-times.com/site/topi...=220868&version=1&template_id=48&parent_id=28

 

The North Slope could yield up to 36 billion barrels of oil and 137 trillion cubic feet of natural gas

http://uk.reuters.com/article/oilRpt/idUKN2922284120080129

Alaska also contains the National Petroleum Reserve-Alaska (NPR-A) with 23 million acres set aside in the 1920s as an emergency oil reserve for the U.S. Navy.

To put 36 billion barrels in context, Saudi Arabia has about 260 billion barrels of proven oil reserves.