Fears of dollar collapse as Saudis take fright


	Fears of dollar collapse as Saudis take fright

911INSIDEJOB144

9-20-2007 2:17 PM

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tags:

devalued dollar, dollar collapse, money, economy, news

1 Comment |

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9-23-2007 5:43 PM

ayoom

This should have been done long time ago.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/427089cf-2ba8-4a18-89b5-1c7e3438ca47/3DEDE335-D3CB-441C-A3CE-172E2C9F88DD/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.prisonplanet.com/articles/september2007/200907collapse.htm" href="http://www.prisonplanet.com/articles/september2007/200907collapse.htm" style="font-size: 11px;">www.prisonplanet.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.prisonplanet.com/articles/september2007/200907collapse.htm"><P align="left" class="mediumtext1"> Ambrose Evans-Pritchard
<A href="http://www.telegraph.co.uk/money/main.jhtml;jsessionid=BYRFMD0QYRQTVQFIQMFSFF4AVCBQ0IV0?xml=/money/2007/09/19/bcnsaudi119.xml" linkindex="33">London 
        Telegraph</A>
Thursday September 20, 2007</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.prisonplanet.com/articles/september2007/200907collapse.htm"><P>Saudi Arabia has refused to cut interest rates in lockstep with the US 
        Federal Reserve for the first time, signalling that the oil-rich Gulf 
        kingdom is preparing to break the dollar currency peg in a move that risks 
        setting off a stampede out of the dollar across the Middle East.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.prisonplanet.com/articles/september2007/200907collapse.htm"><P>"This is a very dangerous situation for the dollar," said Hans 
        Redeker, currency chief at BNP Paribas.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.prisonplanet.com/articles/september2007/200907collapse.htm"><P>"Saudi Arabia has $800bn (£400bn) in their future generation 
        fund, and the entire region has $3,500bn under management. They face an 
        inflationary threat and do not want to import an interest rate policy 
        set for the recessionary conditions in the United States," he said.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.prisonplanet.com/articles/september2007/200907collapse.htm"><P>The Saudi central bank said today that it would take "appropriate 
        measures" to halt huge capital inflows into the country, but analysts 
        say this policy is unsustainable and will inevitably lead to the collapse 
        of the dollar peg.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/3DEDE335-D3CB-441C-A3CE-172E2C9F88DD/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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