Tuesday, January 01, 2008

Dead Nemesis To The Rescue Again

Good golly gosh where would the Bushistas be without their good buddy Osama rising from the grave to produce a tape just at the bestest time for them?

Bin Laden remarks make Gulf dollar peg likelier

"DUBAI (Reuters) - Gulf Arab oil producers may be less likely to drop their currency pegs to the weak U.S. dollar after Al Qaeda leader Osama bin Laden criticized dollar pegs as "unjust and arbitrary", economists said on Sunday.
(...)
Saudi Arabia and four other Gulf countries have insisted on their commitment to maintaining pegs to the dollar, which hit all-time lows versus the euro and a basket of major currencies last month.
"Comments like this will make their commitment to the peg even stronger and it will be even harder for them to move away from the dollar," said Marios Maratheftis, regional head of research at Standard Chartered Bank."

2 Comments:

Blogger spooked said...

Funny how that works!

2/1/08 6:03 AM  
Blogger nolocontendere said...

Ain't it? Such a dependable bugaboo.

2/1/08 9:40 AM  

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