OPEC Interested in Non-Dollar Currency
Monday, November 19th, 2007Iranian President Ahmadinejad came out Sunday at the end of a rare OPEC summit stating that OPEC’s members have expressed interest in converting their cash reserves into a currency other than the depreciating U.S. dollar, which he called a “worthless piece of paper.” (It later became clear that the “members” he is referring to is none other than Iran and Venezuela… go figure.)
He went on to blame President Bush’s policies for the decline of the dollar and its negative effect on other countries.
In an effort to tag-team the idea, Venezuelan President Hugo Chavez jumped in from the sidelines saying “the empire …
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