I left a lengthy comment on this, so I'm not going to offer commentary here. This is an article out of England about how the world is ditching the dollar. This is the legacy of conservative social policy and liberal military involvement, imho. Raise our taxes, interest rates, and bust up over-reaching corporations or we are the next Russia.
In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.
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.
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
