Register now to gain access to all of our features. Once registered and logged in, you will be able to contribute to this site by submitting your own content or replying to existing content. You'll be able to customize your profile, receive reputation points as a reward for submitting content, while also communicating with other members via your own private inbox, plus much more!

This message will be removed once you have signed in.

Interested in more traffic and leads? Check our advertising offer
Sign in to follow this  
Followers 0

New competitor for the U.S. dollar ?!

1 post in this topic

After years of discussion and delay, four states of the Persian Gulf - Saudi Arabia, Bahrain, Qatar and Kuwait - have signed an agreement establishing a new currency.

The decision comes in the context of Russia wants to impose Ruble in trade with Belarus and Kazakhstan and China already uses yuan transactions in some Asian countries.

Now done first concrete step in this direction in 2006 after Oman withdrew from the project, followed gesture, day, the United Arab Emirates. In 2007, Kuwait has decided to quit the addiction currency, dinar, the U.S. dollar, unlike other members of the Council.

Switching to single currency is sometimes a painful process. Some countries fear that going in together , they will lose a part of independence. In addition, they need a single currency policy, even on the U.S.

Initially, said the new currency will be linked, in a first phase, on the the American banknote and in a subsequent phase of a currency basket, where the U.S. dollar would have 45% Euro - 30% Japanese yen - 20 % and the pound sterling - 5%. Experts say that, in conditions of crisis, the currency can only protect the economies of countries in a region cataclysmal strong.

How will future currency name, yet nobody knows, and in recent months the subject was not taken into discussion. But until now have been circulating several variants. Some have proposed "real," others preferred "Gulf dinar". No once the 4 countries suggested that the currency Arabic only be named either "khaliji" (Arabic word for "golf") or "djuman" ( "pearl"). Will it succeed Arab countries to reach a consensus, after six of the remaining four? This have to be seen

Really HUGE things are going to happen SOON. Stay tuned !!!

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  
Followers 0

Put your business in front of our community. Check our advertising offer