Depreciating US Dollar Inflates Oil Prices

By | November 18, 2007

Apparently, the depreciating US dollar is causing the rise of the oil prices. Iranian President Mahmoud Ahmadinejad said in a meeting on Sunday, “They [US] get our oil and give us a worthless piece of paper.” Iran and Venezuela are proposing to have oil traded in currencies other than the dollar to prevent the falling dollar to further inflate oil prices.

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