Quote:
Originally Posted by Smokinfastlegend
I dont remember the exact numbers, but I feel we should allow oil to be traded in euros because oil only rose 150% or so in euros while in US dollars it rose over 300%.
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that will be the straw that breaks OUR dollar's back. The oil/dollar hegemony is the only thing keeping our dollar as high as it is. If oil is traded in other currencies, there won't be world wide demand for dollars because those countries won't NEED dollars to buy oil.
Read about the Petrodollar. It's very interesting stuff.
Ah well, it will happen sooner or later anyway.