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Strategies & Market Trends : Classic TA Workplace

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To: nspolar who wrote (76410)	6/20/2003 8:08:14 PM
From: Louis V. Lambrecht	Read Replies (1) of 209892

ns - re financial warfare. Checking that article, only found two others (same text) malaysiakini.com (Malaysia) thedailystar.net (Bengladesh) Trying to confirm. AFAIK, Iraq switched to Euro as accounting currency for the Oil for Food program, far earlier than Nov 2002. Hence poorly informed PR. IMHO, using the Euro in oil trade is no more than hard-talks. I hardly can imagine the house of Saud, heavily invested in the US, risking their US accounts to be frozen in retaliation. Another article, June 14 Further pressure on the euro came from remarks by OPEC President Abdullah al-Attiyah who said, the oil cartel would not switch dollar-denominated oil sales to the euro despite the fall in the value of the greenback. ameinfo.com FWIW

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