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View Full Version : Fears of dollar collapse as Saudis take fright

bicycle
20-09-2007, 07:27 PM
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.

http://www.telegraph.co.uk/money/main.jhtml;jsessionid=BYRFMD0QYRQTVQFIQMFSFF4AVCBQ 0IV0?xml=/money/2007/09/19/bcnsaudi119.xml
whitenight639
21-09-2007, 05:12 AM
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.

http://www.telegraph.co.uk/money/main.jhtml;jsessionid=BYRFMD0QYRQTVQFIQMFSFF4AVCBQ 0IV0?xml=/money/2007/09/19/bcnsaudi119.xml

''ohh whats that i hear.. kinda sounds like something falling like a stone''
''hmmm that'll be the US dollar!!'' :)