Dollar-Dirham peg at "Crossroads", US in free fall

[lance]

ZAWYA

Editor's Message
Can Gulf economies remain insulated from a possible US recession?

While the emerging markets of the Gulf, China and India have been driving global growth, the slowing US economy may yet spoil the party.

Faint murmurs of separating the Gulf's fate from that of the US economy are becoming audible though.

The UAE Central Bank Governor stated this week that the dirham-dollar peg is at a "crossroads" - which is saying a lot given that the UAE has never really publicly articulated its concerns about its dollar peg.

At the moment, the US economy appears to be in free-fall - and it could have some impact on Gulf economies too - $90-plus per barrel of oil notwithstanding.

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[carlos]

Thanks lance for the information! Jup..things are at a crossroads! At this point the only sure thing is that the dollar will continue to decline and drag the US economy down the toilet with it.
How far the economy will continue to decline is anybody's guess. I personally do not envition an economic recovery anytime soon because we no longer have anything on the horizon that could pull us out of this downward spiral.
Carlos

[lance]

Thanks lance for the information! Jup..things are at a crossroads! At this point the only sure thing is that the dollar will continue to decline and drag the US economy down the toilet with it.
How far the economy will continue to decline is anybody's guess. I personally do not envition an economic recovery anytime soon because we no longer have anything on the horizon that could pull us out of this downward spiral.
Carlos

I am afraid you are correct, we are all borrowed out now it is time to pay. Just time to be careful and not take anything for granted. Hey I picked up some physical silver the other day just to be on the safe side, wife flipped out.

That smooth move cost me new back splash in my kitchen, go figure.

They say the sub prime problems will peak late 08 early 09 so we have awhile of course what else happens between then and now, who knows.

Camels back has plenty of straw on it now if you ask me.

[MrAustin]

silver is your friend.. well he's my friend anyways Bought me another xxx ozs today

[lance]

silver is your friend.. well he's my friend anyways Bought me another xxx ozs today

I always wanted him to be my friend and now he is. Want to double his friendship this year. Having friends is good, especially those that won't disappear on you.
Three xxx's is a lot of friends.

[D$I3N.A2R0]

Time to buy AED, QR and SAR instruments.

[lance]

Time to buy AED, QR and SAR instruments.
I'll bite, why?

[D$I3N.A2R0]

The countries in the Arab Council will reval their currency by 2015. AED is were the new finance center of the world is, Dubai. Qatar has oil and Saudi Arabia speaks for itself. They are all at .27 to the dollar. Singapore's dollar is more than that. Its a matter of time.

[tesla]

silver is your friend.. well he's my friend anyways Bought me another xxx ozs today

Silver is definitely our friend, Im buying xxx's lately myself:wave:

[yunowu]

The countries in the Arab Council will reval their currency by 2015. AED is were the new finance center of the world is, Dubai. Qatar has oil and Saudi Arabia speaks for itself. They are all at .27 to the dollar. Singapore's dollar is more than that. Its a matter of time.

Hm...Thanks for your insight !!