The plan is to ditch the greenback in one way or another and an alternative proposal is to trade international oil in a basket of currencies other than the US$.

...Arab nations are mindful of the fact that Iraqi dictator Saddam Hussein's decision to convert his country's international trading to the Euro may have accelerated the US/UK invasion of Iraq but they are somewhat strengthened by China's plans backed by similar Russian plans to join the Euro as the US currency continues its freefall.

posted by Cyndy | link | | |