Pan-Arab Currency?
 

There have been many talks about this lately. It looks like it might become a reality.

[url=http://www.telegraph.co.uk/finance/economics/6819136/Gulf-petro-powers-to-launch-currency-in-latest-threat-to-dollar-hegemony.html]Gulf petro-powers to launch currency in latest threat to dollar hegemony - Telegraph[/url]

What Sayeth The Mob?

Re: Pan-Arab Currency?
 

First step to economic liberation from the west. Sounds like a great idea for them, not so much for the dollar and the euro.

Re: Pan-Arab Currency?
 

Isn't there already a "Pan Arab currency" that they suck out of the earth at an alarming rate?

Re: Pan-Arab Currency?
 

[quote=BleedBurgundy;640695]Isn't there already a "Pan Arab currency" that they suck out of the earth at an alarming rate?[/quote]

That's a commodity. To buy, sell, or trade in that commodity you must use American dollars. The Arabs don't want any more because the value of their transactions are becoming less profitable.