One's Observations

A collection of some things I observe along the way.

Retrieving...

Arab's Dropping the Dollar for Oil
"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." (The Independent Article)

Australia Raising Interest Rates
"Australia on Tuesday became the first G-20 country to raise interest rates since the start of the financial crisis, breaking the ice for other relatively healthy economies to follow suit. The surprise move -- which came earlier than markets expected -- is a signal that the great global monetary loosening is beginning to reverse." (
Wall Street Journal Article)

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