Interesting article in the Asian Times talking about the American dollar on the world stage. Of course, it's sure stir up some fuckin anti-american sentiment in some, but I'm curious about what some of you think...
Most of the central banks around the world hold the dollar as their reserve asset. But Saddam put a dent in it's value by selling his oil in euros rather than dollars, as a statement against America. Now there are a lot of countries moving towards euros as well. Even Saudis are now open to trading in both euro and the dollar.
Will putting these oil fields into the hands of Iraq's next government help reinflate other countries' confidence in the dollar?
Or is this article total bullshit?
http://www.atimes.com/atimes/Middle_East/ED08Ak01.html