The demise of the dollar

In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.

Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.

The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.

Full Article from The Independent

Posted in Interesting, Political | 1 Comment

America’s Smartest Cities

Which metropolis has the most intelligent residents? The Daily Beast crunched the data on the brainpower of America’s 55 largest cities, from first-to-worst.

  1. Raleigh-Durham
  2. San Francisco-Oakland-San Jose
  3. Boston
  4. Minneapolis-St. Paul
  5. Denver

Article

Full List

The highest Texas city on the list comes to no surprise – Austin at number 12.

Houston comes in at 46, Dallas-Fort Worth comes in at 48, and San Antonio is at 53.

Posted in DFW, Interesting, Pop Culture, Texas | 2 Comments