vba big winner as local currency soars, page-3

Thanks Assyrian. Interesting article.

The $US will soon be worth the paper it is written on. Another words, nothing.

Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading.

This will soon led to the other comodities following suit and this will ultimately led to a further demise of the US dollar. Here is a recent article



"By Robert Fisk


Tuesday, 6 October 2009


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






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.


Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.

The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years."



The decline of the US dollar is so far on rumour. Just imangine what impact this will have when this becomes a fact.

Also there is a direct correlation between the $US and the price of Oil, which has seen an increase in the POO. Peak Oilers would have you belive that its a supply and demand issue but this has no founding.

Combine a strenthening $Aus to a decreasing POO and it changes the whole dynamics for VBA.

I agree that $1 per share is not out of the question. Perhaps sooner then we think.