Wednesday, March 22, 2006
Dollar Dump from UAE & Saudis
Ouch... I bet this stings Bush's face a wee bit: "A number of Middle Eastern central banks said on Tues they would seek to switch reserves from the US greenback to euros. The UAE said it was considering moving one-tenth of its dollar reserves to the euro, while the governor of the Saudi Arabian central bank condemned the decision by the US to force Dubai Ports World to transfer its ownership to a 'US entity'. I'm sure all of the ports deal fans will spin this as proof that we should have went ahead w/it full steam ahead... more proof that we need to invest in gold.