And it's a big one. I found this link on the tompaine.com website at lunch just now. Anyone have any idea what a HUGE chunk of the good ol USA Arabs, principally the Saudis, own? It's staggering, and due in large measure to the Bush branch of the Republican Party. Look it up. If the Sauds dumped all their American interests and dollars, it would be devastating, to say the least. Click on the title of this post to link to the UPI story (no other outlet has picked this up apparently...just a small story coompared to missing white females vacationers, right?).
Here's the story pasted in, since someday the link will be dead:
******************************************************************
3/14/2006 10:13:00 AM -0500
Dollar may lose Arab customers over DPW
LONDON, March 14 (UPI) -- Arab nations are exchanging dollars for euros in the wake of congressional rejection of the Dubai Ports World takeover of U.S. ports management.
The United Arab Emirates, which includes Dubai, said it was looking to move one-tenth of its dollar reserves into euros, the Independent reported Tuesday.
The move helped lower the value of the dollar Monday and boost the price for euros.
"The issue is whether we will see similar attitudes taken by other Middle Eastern banks," said Monica Fan of RBC Capital Markets. "It is a question of momentum."
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment