Saudi minister warns of dollar collapse

[Butterflykisses]

The dollar could collapse if Opec officially admits considering changing the pricing of oil into alternative currencies such as the euro, the Saudi Arabian foreign minister has warned.

Prince Saud Al-Faisal was overheard ruling out a proposal from Iran and Venezuela to discuss pricing crude in a private meeting at the oil cartel's conference.

In an embarrassing blunder at the meeting in Riyadh, ministers' microphones were not cut off during a key closed meeting, and Prince Al-Faisal was heard saying: "My feeling is that the mere mention that the Opec countries are studying the issue of the dollar is itself going to have an impact that endangers the interests of the countries. "There will be journalists who will seize on this point and we don't want the dollar to collapse instead of doing something good for Opec.

http://www.thebusiness.co.uk/news-and-analysis/358346/saudi-minister-warns-of-dollar-collapse.thtml

[Vonne]

..and so it was grabbed' lol

[Chariots]

I wonder how his microphone was "accidently left on".

It's quite obvious they were talking about the dollar behind closed doors. Now will this electronic slip of the tounge be enough to send the dollar on another nose dive? Obviously the cat is out of the bag and there is no way of putting it back in.

[Butterflykisses]

I wonder how his microphone was "accidently left on".

It's quite obvious they were talking about the dollar behind closed doors. Now will this electronic slip of the tounge be enough to send the dollar on another nose dive? Obviously the cat is out of the bag and there is no way of putting it back in.

mmmm, Thinking they doing double talking.

[Bernardd]

If the Saudi Prince says something, it MUST be true considering he rules over a government bent upon trust, honesty, and intergrity. I think we'd be better of believing the opposite of what this man has to say.

Surrreeeeeee....the microphone was "accidentally" on.

[Issachar]

I think we'd be better of believing the opposite of what this man has to say. I would have to wonder, would we be better off believing the opposite of what this man says if in fact, what he said was true?

Think about it ..... if the counsel that comes from folks that believe the dollar is collapsing; i.e. pay down debt. Get out of debt. Save money. Invest in historically good investments; i.e. gold ... other currencies, etc., be vigilant .... what harm is there? On the other hand, if the dollar is collapsing, but some folks say "all is well" and "it's just another part of the usual up and down cycle" and therefore people ignore any counsel to prepare (which is really just sound economic practice) and continue to buy on credit and hold onto dollars, a LOT of harm can come.

Remember, in the summer of 1929 there were a lot of folks accusing some of being "chicken little's" and "the sky is falling". It fell.

Issachar

[Bernardd]

Think about it ..... if the counsel that comes from folks that believe the dollar is collapsing; i.e. pay down debt. Get out of debt. Save money. Invest in historically good investments; i.e. gold ... other currencies, etc., be vigilant .... what harm is there? On the other hand, if the dollar is collapsing, but some folks say "all is well" and "it's just another part of the usual up and down cycle" and therefore people ignore any counsel to prepare (which is really just sound economic practice) and continue to buy on credit and hold onto dollars, a LOT of harm can come.

I was talking about the Saudi Prince, i.e. "this man." I agree with your advice; we should always be doing that.

[Issachar]

Oh. Ok.

:thumb

Issachar

[Bernardd]

I also have to wonder, with all the "talk" about foreign countries leaving the dollar, why haven't they and when will they? Talk is cheap unless it's just a means to get the ball rolling. But the talk has been going on for a long time.

[R1200C]

Really looks like all the deals Bush Sr and Jr along with Baker etc made with Saudi Arabia are paying off for the USA. We ought to do something to the Arabs if they put it to us but I guess that wouldn't fit into Bush's New World Order.