arab nations thinking of dropping dollar  | | well technically the gulf states. persian gulf. they all met in kuwait and think they are getting hurt pegging their currency to the dollar. this could mean trouble if they dump all their dollars.
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| | | | | | 1. tigertang (1485) | 6 months ago | Well you have to look at it this way. The Persian Gulf States depend on sale of oil and the price of oil is pegged in US dollars. So when the US dollar goes down the toilet, their earnings go down with it. The money they've made from high prices of oil has been deminished by the fall of the US dollar so you can't blame them for wanting to do business in a stronger currency. However, I think there are political reasons why they won't drop the US Dollar any time soon and Americans can be assured of a somewhat steady supply of the black stuff to keep their cars on the move. Besides, the rest of us don't mind the weak US dollar, it makes holidays to the USA far more fun.;)
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