Executive View: The Saudis and the Dollar

It may seem odd, ironic and even unbelievable to anybody paying those pumped-up OPEC oil prices, but the Saudis feel they are the suckers of th world In their own sardonic way, they even joke about it. They say that they have piped out their black gold but the paper money they have accumulated in return for it has suffered from the decline of the dollar. They are worried about the shakiness of the international monetary system and of some Western banks in which they have put their money.

Whatever the merits of...

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