Seems things are moving much faster than expected.

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http://www.newsrescue.com/2009/10/demise-of-the-dollar-oil-producers-consumers-in-secret-talks-to-replace/

Demise of the dollar. Oil producers, consumers in secret talks to replace $

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October 6, 2009

The Persian Gulf Arab states have recently started secret talks with Russia, China, Japan and France “to end dollar dealings for oil”, a new report reveals.

According to the report written by Independent’s Middle East correspondent Robert Fisk, the proposal was to replace US dollar for crude oil trade by a basket of different currencies over a period of nine years until 2018.

“Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars,”

said the report, adding that France had also been involved in the talks.

The basket would include the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the (Persian) Gulf Co-operation Council, including Saudi Arabia, the United Arab Emirates, Kuwait and Qatar.

The report did not make clear how the change would happen; a big change that would break the oil/dollar link, essentially a treasury operation that Iran, for instance, has already undertaken.

If the plan materializes, analysts say, it could be a major blow to the US economy, already suffering from an unprecedented downturn.

Related: NewsRescue- One World Media For ‘Global Citizens’- 2009 World Economic Forum; Are You Ready?

The report added that an unnamed Chinese banking source has confirmed the plan, saying that it would “change the face of international financial transactions.”

Earlier in September, World Bank President said the United States should not take for granted the dollar’s status as preeminent global reserve currency because other options are emerging.

Robert Zoellick added that global economic forces were shifting and it was time now to prepare for the fact that growth will come from multiple sources.



Iran’s President Mahmoud Ahmadinejad ordered in September the replacement of the US dollar by the euro in the country’s foreign exchange accounts.

Iran had announced earlier that the euro would replace the greenback in the country’s oil transactions. Iran has called on other OPEC members to ditch the sinking dollar in favor of the more credible euro. - PressTv

NewsRescue commentary- This has been in the making and is not a surprise. The war against Iraq was waged at the time Saddam Hussein had decided to discontinue selling oil in the dollar.

Analysts say that the US ‘Elite’ has prepared for this initiation of the new world order, and have moved their vital assets to other nations like Dubai where the headquarters of giant corporations like Haliburton are presently located, and have also moved their finances all over the world. Hence in a comfortable ditching of the US ’ship’, they, ‘Elites’, will continue to control global finances while the United States citizen saves himself along with America.
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America will pay dearly for electing a black president. Nations of the world are far
more racist towards blacks and feel they are too superior to continue to enrich a nation run by a black man.

@strangleyo,

America will pay dearly for electing a black president. Nations of the world are far
more racist towards blacks and feel they are too superior to continue to enrich a nation run by a black man.

What a classic response!

What is funny about that response?. What is so funny about racism?. You are happy racists are trying to frustrate Obama because of his skin colour?

I'm getting the hell out of this country ASAP! If naija no fit for me, I go for Australia.

as if australia was immune the last time america had a great depression.

see this yeye guy

@Aloy.Emeka,

What is funny about that response?. What is so funny about racism?. You are happy racists are trying to frustrate Obama because of his skin colour?

What is funny is that people like you actually believe that racism is behind this! No wonder you believe every opposition to Obama must be race motivbated. Can you reason beyond skin pigmentation?

Do you also agree with my light-hearted conspiracy theory that the IOC denied Chicago the hosting right to the Olympics because Obama is black? Again I laugh!

They can have all the secret meetings in the world. And America has and will continue to have her own secret meetings too. Who no go no go know. One fact is the United States of America still has a lot more cards of prosperity to play whether anyone likes it or not. They double dare china to raise her currency and lets see how many will pick a chinese made over an american made for the same price not even when china's currency is above. They have not combined their economy with Canada and maybe Australia and New zealand like European Union and soon Asia; We all know that just a combination of America and Canada is a game changer and a combination of those four nations mentioned earlier and maybe mexico is a new world order.
America has gone through thick and thin experiences and this is not new to them. They will whether it out and 50yrs from now they will still be on top especially without a major fight with china and russia combined against her. Like Obama said sometime ago "America has heard this before and still fared even better". The funny thing is that out of all the markets in the world including those complaining and hating, America is still the safest and they(America) are fully aware that nothing is forever not even the dollars so be prepared for them to still be the chairman of any planned new currency. Who no go no go know. After naija, Yankee is the best. Pls believe.

Tayo-D:

@Aloy.Emeka,
What is funny is that people like you actually believe that racism is behind this!  No wonder you believe every opposition to Obama must be race motivbated.  Can you reason beyond skin pigmentation?

Do you also agree with my light-hearted conspiracy theory that the IOC denied Chicago the hosting right to the Olympics because Obama is black?  Again I laugh!         

If you did not see any form of racism in that comment, then you must be a dullard. Somebody said he or she will not respect Obama not because of his liberal policies but because he is black and you can't see through it. I pity buffallo soldiers like you. Who told you I believe that every Obama's opposition is racially motivated?. One cannot disagree with your likes without being branded Obama lover or liberal. I don't give a hoot about Obama but I do have a problem with racists. If you don't believe that over half of his critics do so out of racial discrimination, you can believe anything. The same can be said about George Bush, many coloured people are racists too and a lot of them abused him because of his skin colour but it's worse in Obama's case.