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New It is one step in the chain
The world is moving away from dollars as being the dominant international currency. Breaking the Saudi dollar peg will reduce the incentive to buy and sell oil in dollars, which will be one more step in moving away from it.

What the governments and big banks are aiming for is a long slow let down. But it will be easy to botch, and once it goes into a sharp dive there will probably be nothing anyone can do.

Jay
New Plus, if the US does something really crazy
some people might decide that a very fast dump (say, the Chinese, they can completely trash the dollar singlehandedly just by putting all their paper on the market at once) so as to immobilize the US military machine. Military machines run on oil, and if there's a run on the US dollar, they won't be able to buy it. That would be really bad for my country as they'd probably try to come here and take it by force, but for other actors that might be seen as a small price to pay for stopping the US after the strategic reserve runs out.
     Saudi Arabi doesn't match US interest cut - (JayMehaffey) - (5)
         Wow, if that set off a run on the dollar - (jake123) - (1)
             If the dollar collapses . . . - (Andrew Grygus)
         Other news about interest rates in the Gulf aren't as shrill - (Another Scott) - (2)
             It is one step in the chain - (JayMehaffey) - (1)
                 Plus, if the US does something really crazy - (jake123)

Where did you *think* lerpadisms come from?
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