Shine india monthlymagazine published this article page no 2 a secret broadcast came around which showed that venezuela and iran were behind the move to change how oil is priced into another currency. venezuelan representative angelas de morais stated the weakness of the dollar is affecting us all and but thats a global-scale problem. its not for an individual organization to tackle. he was referring to saudis insistence on keeping the american dollar. saudi arabia doesnt want to see the american dollar collapse as much of its economy is based on the american dollar. they have hundreds of billions of dollars invested within the united states and removing the dollar as the oil pricing standard may make it decline further which is likely to hurt saudi arabia further. the dollar has declined significantly over the past few years. this decline is up to 15% against the euro in the past 12 months alone. as the dollar deflates american buy less products from overseas which hurts our allies and business partners. in addition the decline in the dollar reduces the value of investments made by foreign countries in the euro. when countries purchase american dollars or make investments in american dollars they can find that the dollar is deflating which means they are losing money on their investment shine india monthly magazine telugu buy.
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