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23rd June 2009
Folks,
Oil prices are heading up gradually because the US dollar is sliding down gradually again, while the US treasury is printing dollars like there is no tomorrow.
I said it before on this forum. The L.L. should be pegged to the euro if any, so Lebanon like Europe feels less pain at the gas pump along with the rest of the commodities prices that need to be transported for delivery.
I doubt we’ll ever see the euro for $1.25 ever again. |