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Oil states say no talks on replacing dollar

October 7th, 2009
Categories: News, Iran

Link: http://www.reuters.com/article/ousivMolt/idUSTRE59507620091006

Big oil producing nations denied a British newspaper report on Tuesday that Gulf Arab states were in secret talks with Russia, China, Japan and France to replace the U.S. dollar with a basket of currencies in trading oil. The dollar eased in response to the report, which was written by The Independent's Middle East correspondent Robert Fisk and cited unidentified sources in Gulf Arab states and Chinese banking sources in Hong Kong. NewsTin: Report: Iran shifts foreign currency reserve to Euros. Bloomberg: Iran Aims to Shift Forex Reserves From Dollar to Euro. Israel wants the US to go to war against Iran because of these hyped & nonexistent nuclear weapons, and the US wants to go to war against Iran because that country doesn't want to deal in dollars anymore. -Does anyone in his/her right mind think that these are valid reasons to start World War III? We don't.

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