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New documents from Zero Hedge show longtime U.S. fear of oil trade's dollar dump

Section: Daily Dispatches

1:45p ET Tuesday, October 6, 2009

Dear Friend of GATA and Gold:

Zero Hedge's researcher, Geoffrey Batt, has just posted two declassified Carter administration documents showing that the world's trading oil in something other than dollars long has been a serious worry of the U.S. government. The Zero Hedge posting is headlined "Confidential Memos Indicate Oil SDR Pricing Shift Would Be 'Most Damaging' To United States And Precipitate 'Serious Market Reaction'" and you can find it here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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