Arabs to Western Powers - MIND YOUR OWN BUSINESS
Publisher's Description
Description: In this sweet and short article, Anil Selarka, author of Sub Prime Resolved, describes the Arab and Muslim sentiments towards United States, UK and its allies. In the name of democracy and economic sanctions, US has been freezing Forex reserve of creditor nations, especially Arab and Muslim nations. As result, the Arab oil suppliers appear to have started quoting oil prices in Euro or demanding settlement in Gold (by Iran especially). In spite of financial problems facing several European nations such as Greece, Portugal, Iceland and Spain, the EURO has been rising. The buyer nation of oil has to buy EURO first by selling US$ and then pay the oil suppliers in Euro which is routed through European Clearing Bank system. As result, the Euro is rising, Gold is partly rising as transactions are limited, and dollar is falling steeply. The oil prices in terms of dollar also rise because of higher Euro that translates the oil prices in dollar terms higher. It is a double whammy for the United States where the gas prices at the pumps have risen to over $5 in some states and $4.45 in California. President Obama is wielding his sword in the air to attack oil price speculators when none exists. The solution lies on his desk if he cares to de-freeze the Forex reserve and let the trade return to normalcy. Otherwise, when winter returns, President Obama will have caused many death of Americans by freezing them to death for refusing to de-freeze Forex reserve of oil suppliers. He would better learn - MIND YOUR OWN BUSINESS - the clear message from Arabs and Muslims before it is too late.
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Categories
business, news & politics, people
Tags
arabs / muslims / obama / oil prices / freezing forex reserve / economic sanctions
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