FW: Gulf petro-powers to launch currency in latest threat to dollar

From: Andrew Johnson

Date: 2009-12-17 11:02:38

_filtered #ygrps-yiv-1955503865 { font-family:Cambria Math;} _filtered #ygrps-yiv-1955503865 { font-family:Calibri;} _filtered #ygrps-yiv-1955503865 {margin:1.0in 1.0in 1.0in 1.0in;} #ygrps-yiv-1955503865 P.ygrps-yiv-1955503865MsoNormal { MARGIN:0in 0in 0pt;FONT-FAMILY:”Calibri”, “sans-serif”;FONT-SIZE:11pt;} #ygrps-yiv-1955503865 LI.ygrps-yiv-1955503865MsoNormal { MARGIN:0in 0in 0pt;FONT-FAMILY:”Calibri”, “sans-serif”;FONT-SIZE:11pt;} #ygrps-yiv-1955503865 DIV.ygrps-yiv-1955503865MsoNormal { MARGIN:0in 0in 0pt;FONT-FAMILY:”Calibri”, “sans-serif”;FONT-SIZE:11pt;} #ygrps-yiv-1955503865 A:link { COLOR:blue;TEXT-DECORATION:underline;} #ygrps-yiv-1955503865 SPAN.ygrps-yiv-1955503865MsoHyperlink { COLOR:blue;TEXT-DECORATION:underline;} #ygrps-yiv-1955503865 A:visited { COLOR:purple;TEXT-DECORATION:underline;} #ygrps-yiv-1955503865 SPAN.ygrps-yiv-1955503865MsoHyperlinkFollowed { COLOR:purple;TEXT-DECORATION:underline;} #ygrps-yiv-1955503865 SPAN.ygrps-yiv-1955503865EmailStyle17 { FONT-FAMILY:”Calibri”, “sans-serif”;COLOR:windowtext;} #ygrps-yiv-1955503865 .ygrps-yiv-1955503865MsoChpDefault { } #ygrps-yiv-1955503865 DIV.ygrps-yiv-1955503865Section1 { } I wonder… Amero, Gulfo, Euro??? From: Ernest VM [mailto:ernestvm@hotmail.com] Sent: 17 December 2009 02:08To: Ernest VMSubject: Gulf petro-powers to launch currency in latest threat to dollar hegemony  www.telegraph.co.uk/…   “The US dollar has failed. We need to delink….” – Nahed Taher, chief executive of Bahrain’s Gulf One Investment Bank.   Gulf petro-powers to launch currency in latest threat to dollar hegemonyPublished: 7:12PM GMT 15 Dec 2009The Arab states of the Gulf region have agreed to launch a single currency modelled on the euro, hoping to blaze a trail towards a pan-Arab monetary union swelling to the ancient borders of the Ummayad Caliphate.   “The Gulf monetary union pact has come into effect,” said Kuwait’s finance minister, Mustafa al-Shamali, speaking at a Gulf Co-operation Council (GCC) summit in Kuwait.   The move will give the hyper-rich club of oil exporters a petro-currency of their own, greatly increasing their influence in the global exchange and capital markets and potentially displacing the US dollar as the pricing currency for oil contracts. Between them they amount to regional superpower with a GDP of $1.2 trillion (£739bn), some 40pc of the world’s proven oil reserves, and financial clout equal to that of China.   The Gulf currency – dubbed “Gulfo” – is likely to track a global exchange basket and may ultimately float as a regional reserve currency in its own right.     No virus found in this incoming message.Checked by AVG – www.avg.comVersion: 9.0.716 / Virus Database: 270.14.109/2567 – Release Date: 12/16/09 19:52:00

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