Thursday, April 10, 2008

Petrodollars and Inflation (Tim Swanson)

Tim Swanson on how the oil states are feeling the effects of keeping their currencies pegged to the tanking dollar:

At the beginning of The Kingdom, a Hollywood movie from 2007, the audience is briefly given a history lesson on one of the world's largest companies that is now known as Saudi Aramco. And behind the fictionalized account of the Khobar and Riyadh bombings, the geopolitical backroom deals and government intervention portrayed are very real.

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