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DOLLAR'S DEMISE PLOTTED BY OIL PRODUCERS, CHINA AND FRANCE

Oct 6/09. The world's oil producers, as well as China and France, are planning to end using the dollar as the currency to buy and sell oil, the Independent newspaper reported.

The move would see oil priced not in dollars but in a unit based on a basket of currencies including the Chinese yuan, the Japanese yen, and a new currency intended for use by the Gulf emirates, according to a report in Tuesday's Independent newspaper. The paper added that the transition from the dollar to a new currency will take almost a decade.

FULL ARTICLE>

http://www.worthynews.com/top/telegraph-co-uk-finance-currency-6263992-Dollars-demise-plotted-by-oil-producers-China-and-France-report-says-html/

 

 

 

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