Saudi Arabia did not following the recent US rate reductions - first time that has ever happened - and that alone led to speculation that they might be planning to cut the link of their currency to the dollar. (I posted this development somewhere at the time.) Now it is becoming much more clear that this will very likely happen. I honestly do not know what this will cause. Read: "...The dollar earlier fell after the Gulf Cooperation Council, which includes Saudi Arabia, United Arab Emirates and Qatar*, said yesterday members will discuss a proposal next month to change their fixed exchange rates to the dollar. The case for a revaluation will be presented to heads of state in a summit in Doha, Qatar, on Dec. 3-4, Secretary General Abdul Rahman al- Attiyah told reporters yesterday in Riyadh, Saudi Arabia. ..." 19 Nov from: http://www.bloomberg.com/apps/news?p....tI&refer=home ------------------------ *Six mid-east oil exportring nations will discuss the cutting of their dollar links at this meeting as the first paragraph of the above link notes. Perhaps they are thinking "there is strength in numbers." - I.e. the US can not invade them all as it has in the past when one (Iraq) started selling oil for Euros.