The U.S. Dollar Will No Longer Be Used For Oil Trading

Iran announced late last month that its foreign currency reserves would henceforth be held in euros rather than dollars. REX

The Demise Of The Dollar -- The Independent

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.

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.

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My Comment: I cannot say that I am surprised .... but still .... it is something that is hard to accept .... and will become even harder when it becomes reality.

I know that this is going to have a profound impact on the U.S. Dollar, it's currency, and its economic/financial future. In addition, the impact on national security and our alliances with other countries cannot be underestimated .... they will be affected as they world reverts to the financial dominance of countries/regions like China and Japan, the Gulf Kingdoms, and the EU.

We at WNU will be spending the next few days analyzing the impact that this will have on national security, military budgets, and what impact it may have on creating conflicts and wars.

The day of U.S. dominance of world financial markets is now approaching an end.