dinsdag 6 oktober 2009

New currency for oil


The financial ministers of the big economic forces, such as China, Japan and the European Union, are planning to use their own currency in stead of the dollar for trading oil. Rumor has it that their will even be a unified currency for the nations in the Gulf, although the Americans don't take it seriously.
Currently the rise of the price of gold could be explained by these rumors, because the big economic countries want to use gold as an transition payment. If it will come to an economic war, depends on the evolution of the situation, but the stakes are high.
link

Vandepoele Gilles

1 opmerking:

EcoEnglish zei

Flow ok, single focus ok, although S4 requires quite a bit of background knowledge. Too many language issues.

S1: currencies
S2: there will
S3: a transition payment
S4: Whether it comes to... will depend