The Euro: Chavez has been taking Venezuelan oil out of the petrodollar

[LaPera]

After Iran (swiches on March 20th) it is oil rich Venezuela led by Hugo Chavez that has become the center for confrontation between America and the Euro Zone. Chavez is dead against America and Euro Zone needs him to keep the oil balance - the power symbol in 2005. But this time the equation is a little different. A new regional and super power coalition of India, China, Russia and Brazil is making a huge difference. Russian President is in the zone to pull Brazil in the coalition and influence on Chavez for mutual support.

While the whole world is focused on America and the Euro zone for the super power challenges, both these powers are looking small when you combine the powers of the new coalition Putin is building with India, China, Russia and Brazil. Add to that Venezuelan oil that supplies America a substantial crude oil, and now you have the actual scenario of confrontation.

Venezuelan President Hugo Chavez is leveraging his country's oil resources to build new geopolitical relationships with key regional powers like Russia, China, India and Brazil.


Syria switches from dollar to euro

Syria has switched the primary hard currency it uses for foreign goods and services from the U.S. dollar to the euro in a bid to make it less vulnerable to pressure from the U.S.

http://seattletimes.nwsource.com/html/nationworld/2002806150_wdig15.html

[sasha031]

1. it frightens me everyone switching the the Euro

but I can't blame them....but how it will effect us, I am not an economist but I expect everything will skyrocket

they print dollars to solve their problems, we are in for some really tough times.