Tuesday, March 11, 2008

Peg, Peg, Peg

Score for the Anti-dollar bunch:

Suwaidi , Wheres your name? I dont see it in this article? Why isnt the central bank governor be it Sultan AlSuwaidi (or someone else?) in probably the most influential national article of the month?

Given, this is the umpteenth (1, 2 , 3) time its mentioned this year. I want to call him out: YES foreign investment is good. YES, tourism / oil sectors would favor lower dollars, BUT what about the booming trade sector? what about the local businesses? What about the food basket? How is lower-income sector going to eat with prices of cooking oil going up by 13 percent (if I remember correctly) ?

I want to see a board voting on this, with published opinions and positions, because the random mumblings of one man to influence a nations ENTIRE currency peg is odd.

On a lighter note: I find it smart that most of the mumblings are in the arabic newspapers not the english ones, that way the international community doesnt freak out at what he has to say? (dont know if thats just a fluke or not :-p)