| Saudi Arabia and the United States have been | | | | removing the dollar as the oil pricing |
| friends for some time. To the average public | | | | standard may make it decline further which is |
| within the country most Americans view Saudi | | | | likely to hurt Saudi Arabia further. The |
| Arabia as sponsors of terror citing the | | | | dollar has declined significantly over the |
| countries Muslim background. However, Saudi | | | | past few years. This decline is up to 15% |
| Arabia regularly supports the United States | | | | against the Euro in the past 12 months alone. |
| and has done so again in the last round of | | | | As the dollar deflates American buy less |
| OPEC meetings. Venezuela and Iran wanted to | | | | products from overseas which hurts our allies |
| open discussions about valuing oil against a | | | | and business partners. In addition, the |
| new currency standard then the dollar. They | | | | decline in the dollar reduces the value of |
| were hoping the move would be symbolic that | | | | investments made by foreign countries in the |
| the world should move away from seeing the | | | | Euro. When countries purchase American |
| United States as a leader and move towards | | | | dollars or make investments in American |
| some other supper power like China or the | | | | dollars they can find that the dollar is |
| European Union. The 12 member OPEC | | | | deflating which means they are losing money |
| dignitaries flew into Riyadh and Saudi police | | | | on their investment. Each dollar is worth |
| and helicopter blocked roads, and protected | | | | less then it was a few years ago and |
| the sky with helicopters and the dignitaries | | | | therefore their investments have shrunk. To |
| made it to their place of residency. The | | | | counter this a number of countries have begun |
| meeting was called to discuss oil exports and | | | | to diversify their holding in foreign |
| the cost of oil. In addition, the meet is to | | | | currency to more stable currency like the |
| ponder ways of reducing emissions. A secret | | | | Euro. The declining value of the dollar is a |
| broadcast came around which showed that | | | | double-edged sword for the United States. On |
| Venezuela and Iran were behind the move to | | | | one end the declining dollar increases |
| change how oil is priced into another | | | | American exports because American products |
| currency. Venezuelan representative Angela's | | | | become cheaper but on the other end America |
| de Morais stated, "The weakness of the dollar | | | | has less foreign influence because countries |
| is affecting us all" and "But that's a | | | | aren't selling as many products in the United |
| global-scale problem. It's not for an | | | | States. The current crisis the country has to |
| individual organization to tackle." He was | | | | face is the amount of dissention that a |
| referring to Saudis insistence on keeping the | | | | number of disgruntled countries are beginning |
| American dollar. Saudi Arabia doesn't want to | | | | to show now that their economies are not so |
| see the American dollar collapse as much of | | | | tightly tied to the U.S. We may see a growing |
| its economy is based on the American dollar. | | | | trend of countries attempting to hurt |
| They have hundreds of billions of dollars | | | | American interests and business partnerships |
| invested within the United States and | | | | around the world. |