Tuesday Watch
Between the Hedges — ... twice the number on its American payroll in January, 2009. The Independent: - 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, ...

Demise of the Dollar
Michael Covel: Trend Following Manifesto — I thought the U.S. government had saved and or fixed “everything”. Guess not. ShareThis

Gulf in oil-dollar talks, report
FT Alphaville — The US dollar fell on Tuesday on a report in The Independent that Gulf Arab states were in secret talks with Russia, China, Japan and France to move their crude-oil trading from the dollar to a basket of currencies, ...

Stock Picks: KGC Up, STJ Down
SmartMoney.com — ... Gold prices spiked after a report in the British newspaper The Independent that a group of Persian Gulf nations were in secret talks to replace the dollar with a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a regional currency for the Gulf for oil trading purposes. Though the report was denied by the Gulf regional body, the report said finance ministers and central bank governors in Russia, China, Japan and Brazil had participated in talks. ...

Long The Dollar
the evil speculator - one nefarious trade at a time — ... opportunity in the DXY right now. Let’s review: As of 12:05am the DXY dropped all the way to 76.43 - which according to 2sweeties’ DXY retracement levels calculator is only a few ticks away from a high frequency long RL: There you have it - should this level fail the next RL is at 75.94 - quite a bit away and if that happens we’re bears are in a world of hurt. So, let’s see what works better - headlines and opinion pieces in the MSM, or a proven statistical reversal odds ...

THE FINTAG NEWSLETTER @ 06 October 2009
FiNTAG - Hedge Fund News, Views, Opinions and Gossip — ... Fintag says Inflation, deflation, who cares. Here comes the hot money - out of the dollar, yen and euro and into nice and Australian bank accounts. independent says " The demise of the dollar " HEDGEMARK ADVOCATES MANAGED ACCOUNTS PLATFORM FOR HEDGE FUND INVESTMENT hedge funds review ...

Indy and the secret plot to topple the dollar
FT Alphaville — ... (remember it?) make such a big international — and financial — splash. But its front-page article on Tuesday, by Middle East correspondent Robert Fisk, has certainly caused a stir. In the report, headlined “ The Demise of the Dollar “, Fisk claims secret talks have been taking place between Arab states and China, France, Japan and Russia, to stop using the US currency for oil trading and to move to a basket of currencies. The proposed new basket supposedly includes the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for the six-member ...

Ridiculous Hype Over Secret Oil Meetings
Mish's Global Economic Trend Analysis — Once again everyone is hyperventilating over "secret" moves to trade oil in currencies other than the US dollar. Please consider The demise of the dollar by Robert Fisk. ...

Dollar Pricing Of Oil To End?
Stefan Karlsson's blog — ... Robert Fisk at The Independent claims that talks are underway to replace the dollar by a basket of different currencies, something which is ...

The world and the dollar reacts to Robert Fisk
FT Alphaville — ... , The Independent appears to have rocked the world on Tuesday with its Robert Fisk exclusive exposing a secret plot by international central banks to topple the US dollar. As we’ve stressed, denials have been coming out thick and fast from all the central banks involved. What’s more, the concept of pricing oil in an alternative currency to the dollar is hardly a ...

Bond Market Open October 6 2009
Across the Curve — ... The once mighty greenback is under some serious pressure today and is trading with a 1.47 handle versus the Euro. At some point that will become a problem. The UK newspaper, The Independent carried a story overnight which claimed that several oil countries had embarked on a venture to price oil in dollars and were in cahoots with Russia and Brazil and Japan. Among the participants Saudi Arabia is denying the story but as if a line from a Dylan song the dollar “cant get no relief”. ...

Tempting Tuesday - You Call that a Sell-Off???
Phil’s Stock World — ... After going wisely neutral into the weekend, we may have gone a little too bearish yesterday as we don’t have the same catalyst today (Consumer Confidence) to take down the market that we had last week.  We have another Consumer Confidence report this evening at 5pm but that doesn’t stop the pump-monkeys from attacking the dollar this morning as they float rumors that the dollar will be replaced by OPEC as an exchange currency, which sent the dollar down to 89 Yen and $1.475 to the Euro and $1.605 to the Pound - all based on nothing but a rumor. ...

Opening Bell: 10.06.09
Dealbreaker — ... The Independent report is "absolutely incorrect" and there has been "absolutely nothing" of that nature discussed between Saudi Arabia and other countries, Saudi Central Bank Governor Muhammad al-Jasser told reporters in Istanbul. ...

Done With The Dollar
Bear Mountain Bull — This has been in the making for some time now. It’s just that, now, it’s starting to become news . It won’t happen overnight — but now that it’s underway, it isn’t likely to stop. 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 ...

A Rush Away From $$$? Gold Percolating...
Manhattan Real Estate: New York City Real Estate Tips — ... By the time inflation does become an issue, perhaps in a few years, gold will already have made its move. Now we start to hear about "The Demise of the Dollar" by Robert Fisk over at The Independent: ...

How Much Credence to Give Rumors of Oil for Gold Swaps
GoldSeek.com — ... are true are more a question of policy makers mulling over policy options, and even considering a move against the US dollar can be damaging if taken out of context. Indeed, it would perhaps be surprising if Gulf States were not considering all available monetary strategies at this moment in time, particularly with a proposed union of the currencies of Saudi Arabia, Kuwait, Bahrain and Qatar supposedly about to happen. Gold for oil Gold bugs have been excited by the statement in The Independent that ‘The transitional currency in the move away from dollars may well be gold, ...

Ten Reasons to Ignore the Hype Over Secret Oil Meetings
Minyanville — Once again everyone is hyperventilating over "secret" moves to trade oil in currencies other than the US dollar. Please consider The Demise of the Dollar by Robert Fisk. 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. ...

Gold Breaks $1040 Level as The Independent Speaks of Secret Meetings to Run from the Dollar; Australia Raises Interest Rates
Fund My Mutual Fund — ... This followed a story last night from the UK paper The International: "The Demise of the Dollar" which proposes that secret meetings have been going on between Arab oil states, China, Japan, France, and Russia to begin pricing oil in something not called the US dollar. I've read The International from time to time, and some of what they write is sensationalist (in my opinion) and this story has zero sources so I am not going to repost it here. You can follow the link above to read the whole thing - but in summary: ...

Gold hits record high while the dollar weakens -- why?
BloggingStocks — ... Why is gold moving up? A news story in The Independent, a British paper, reported that secret talks are underway to dump the dollar as the currency for oil transactions. Included in the talks were China, Russia, Japan and France. They want is to replace the U.S. dollar with a basket of currencies and gold. ...

A gold/dollar chart fest
FT Alphaville — ... before doubts began to set in over supposedly secret talks to undermine the dollar. Anyway, the price moves were real enough.  These first two FT charts should update dynamically: [image] [image] Here’s another one from Kitco, with gold quoted in euros. We have yet to source one pricing the yellow metal in Yuan. ...

Why Gold is Soaring
Mises Economics Blog — ... Here: "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." ...

Tuesday links: sidelined cash
Abnormal Returns — ... Are oil producers looking to price oil with a basket of currencies.  (The Independent also  ...

Lunchtime Links 10-6
Rolfe Winkler — ... The demise of the dollar (Independent, ht Marco) This article may be the reason gold is up big today. It claims “Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading.” Perhaps. ...

Janet Tavakoli: China's Massive (And Unknown) Derivatives Default
The Daily Bail — ... Robert Fisk exposed revived discussions by the Gulf States, China, France, Japan, Brazil, and Russia to replace the dollar as the benchmark oil trading currency with a basket of currencies including gold within 10 years.  This proposal is not new and discussions have been ongoing for decades.  But other extraordinary moves in the capital markets suggest we should take this threat to the dollar’s position very seriously.  For example, China has $2.3 trillion in currency reserves (about 70% in dollars), and China knows how to get its way. ...

Dollar Living on Its Reputation and Borrowed Time
Yahoo! Finance: Tech Ticker — Stocks and commodities are on the rise today as the dollar falls. It's nothing new or surprising. What is newsworthy is a report from the British newspaper The Independent claiming the dollar's days might be numbered in the oil trading pits. The story says "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 details on how and what would replace the dollar, according to the report, are still in the works. Sources aren't ...

Afternoon Reading
The Big Picture — Market up 125 +, but slowly slipping. Here is what is on my reading list for today: • Niall Ferguson: There’s no such thing as too big to fail in a free market (Telegraph) • The demise of the dollar (The Independent) • America’s most tone deaf CEO (CNN/Money) • Newspaper front pages during the financial crisis (Economics of Contempt) • Gold Jumps to Record as Inflation Outlook Fuels Investor Demand (Bloomberg) • It’s Ron Paul’s world, we can only read about it; ...

Dollar Distress
The Powell Perspective — ... Robert Fisk story is getting a lot of play today.  He claims that the Saudis, Russians and Chinese are holding “secret” meetings to price oil in something other than the dollar.   If they exist, the meetings represent a shift away from a US dominated world economy.  This has been the case since at least 1989, but the idea never fails to stir conspiracy theory.  ...

The demise of the dollar
IEHI Feed: The Hedge Fund Implode-o-Meter — The demise of the dollar (independent.co.uk) [image] Search Enter your search terms Web HF Submit search form 2009-10-06 " In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading" go to full article | permalink to this | forum thread | Subscribe by email! [image] Comments: Be the first to add a comment add a comment | go to forum thread [image]

Protect the Dollar; Go for Growth
Kudlow's Money Politic$ — ... The first is about the demise of the dollar. According to London’s Independent, the Arab oil producers in the Gulf are planning with China, Russia, Japan, and France to end dollar transactions for oil and move instead to a basket of currencies that might include the Japanese yen, the Chinese yuan, and the euro, along with gold and some kind of regional Gulf state currency. ...

Gold Seeker Closing Report: Gold and Silver Gain About 2% and 4%
GoldSeek.com — ... high of $20.64 set on March 5 th of 2008 and well below its all-time high of $50 set in January 1980. Euro gold rose to about €705, platinum gained $27 to $1318.50, and copper gained nearly 6 cents to about $2.78. Gold and silver equities rose over 7% in the first hour of trade before they fell back off a bit in early afternoon trade, but they still ended with over 6% gains. The XAU, HUI, and GDM remain about 15-18% below their all-time closing highs set on March 14 th of 2008. The Demise of the Dollar: Arab States in Secret Moves with China, Russia and France to ...

A Change Coming to the World Monetary System?
The Oil Drum - Discussions about Energy and Our Future — ... The demise of the dollar 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 [this is the already famous ...

US Dollar: “I’m Not Dead Yet!”
The Aleph Blog — ... pressures on it; its survival is mot assured. Nothing else is large enough or stable enough, or mature enough to run the deficits necessary to have the debt markets, to be the global reserve currency.  As an example, China does not want to run deficits, nor is its financial system strong enough to bear the wear and tear of global use of its currency. So, when reporters write pieces indicating the imminent demise of the US Dollar, I don’t buy their arguments: The demise of the dollar The latest dollar rout revealed ...

Global Game Of Chicken?
Daily Markets — ... Well it looks like the cars are speeding up. Like a scene from a James Dean movie, the global game of chicken that has been taking place between the United States and China and the rest of the world is starting to heat up. Just yesterday an article from the UK Independent by a credible author claimed that secret meetings have been taking place to effectively end the US dollar as the currency of choice for crude oil trading, thereby weakening its position as the world’s reserve currency. While nobody is happy about the decline in the value of the US dollar, this is nothing ...

Wednesday Roundup
Random Roger — ... Lastly in case you did not see the article from the Independent that caused all the hub bub yesterday about the dollar here it is. It seemed to read strangely to me. Decide for yourself. ...

Janet Tavakoli: China Defaults
The Market Ticker — ... Fisk exposed revived discussions by the Gulf States, China, France, Japan, Brazil, and Russia to replace the dollar as the benchmark oil trading currency with a basket of currencies including gold within 10 years.  This proposal is not new and discussions have been ...

A Change Coming to the World Monetary System?
The Oil Drum - Discussions about Energy and Our Future — ... The demise of the dollar 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 [this is the already famous ...

Two Interviews from RussiaToday [Video]
GoldSeek.com — ... That's the view of Max Keiser, finance critic and former stockbroker. He says China and Russia are interested in collapsing the US economy by rejecting the dollar. “We’re almost a decade away from dedollarization” The US dollar fell to its lowest point in 52 weeks, after Robert Fisk’s report suggested it could be dumped as the top currency for oil trade. Though some have strongly denied his claim, Fisk told RT it was expected. On Monday, British newspaper The Independent published Fisk’s report claiming that China, Russia, France, Japan and some Gulf states had held secret ...

Weekly Wrap Up - Double Up or Double Top?
Trading Goddess — ... a big spike on Tuesday led to the drop-off we had been waiting for. I should have listened to my morning self, as I wrote right at the top of the post: "We may have gone a little too bearish yesterday as we don’t have the same catalyst today (Consumer Confidence) to take down the market that we had last week. We have another Consumer Confidence report this evening at 5pm but that doesn’t stop the pump-monkeys from attacking the dollar this morning as they float rumors that the dollar will be replaced by OPEC as an exchange currency ...

Canadian ThanksGolding Long Weekend
GoldSeek.com — ... . This will be used for trade between the two countries as dependence on the US dollar as a mean of international trade continues to diminish. I am sure everyone has heard the story of middle eastern interests, Chinese, Russian, Japanese and French meeting to come up with a plan to skirt using the USD in oil trading in favour of a basket of currencies which would include gold. Rumblings have been taking place for the past few years over deals similar to this. I don’t have much to say on it, since in my view it’s old news, other than, stories like this must be denied at least ...

4 Ways to Short the U.S. Dollar (On the Street)
SmartMoney.com — ... Last week, more bad news leaked about the dollar. An article in The Independent said that China, Russia, Japan, France and Arab states in the Persian Gulf are planning to end dollar dealings for oil and move to a basket of currencies. Oil and finance officials in the Gulf later ...

Chris Powell: Remarks to the 2009 New Orleans Investment Conference
GoldSeek.com — ... The specifics of the gold price suppression operation are complicated, but you don't have to remember them all if you know what they mean. They mean that there's a currency war going on between central banks. There has been such a war for many years, only the victims were not really fighting back. Now some of them are. Signs of this war are now everywhere -- like the story this week by Robert Fisk in the British newspaper The Independent, which rocked the currency and gold markets: http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar... It described an ...

China’s Dragons: Oil, Gold, and the US Dollar
GoldSeek.com — ... in September, 2009, rumors of secret talks between Arab states, China, Russia, Japan and France, allegedly regarding replacing the US dollar with a basket of currencies including the euro, Japanese yen, Chinese yuan, and gold. Talks between Russia and Iran regarding conducting oil transaction in rubles were ...

Gold suppression is public policy and public record, not 'conspiracy theory'
GoldSeek.com — ... are complicated, but you don't have to remember them all if you know what they mean. They mean that there is a currency war going on between countries and their central banks. There has been such a war for many years, only the victims were not really fighting back. Now some of them are. Signs of this war are now everywhere -- like the story published a month ago by the British newspaper The Independent that described an international plan to replace the dollar in oil trading: http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar... Gold and silver have been ...

Iran, the self-declared FX shrewdie
FT Alphaville — ... the benefits of switching away from the dollar in…er…dollars, seems lost on the news service. As Reuters notes ,  Iranian President Mahmoud Ahmadinejad has called the US currency a “worthless piece of paper.” Press TV add that “Saudi Arabia, South Korea, China, Venezuela, Sudan and Russia have taken steps to replace the US dollar in their foreign exchange reserves, as well. ” H/T Alea Related links A cabal plotting against the dollar? - John Kemp at Reuters The demise of the dollar - Robert Risk in the Independent