oil and the dollar
Nov. 19th, 2007 12:55 pmInteresting that Opec is discussing the low value of the US dollar. I imagine our market would collapse if they stop trading oil in dollars. Many people believe that taking over Iraq was a ploy to stop this change from happening, since Saddam was threatening to do just that. In other words, the war was not about regime change, but about protecting our economy from a total collapse.
They day Opec announces they are switching to the Euro, the dollar will plummet. Fortunately for us, this very fact is stopping them from doing so, since they'd get stuck with a lot of dollars.
They day Opec announces they are switching to the Euro, the dollar will plummet. Fortunately for us, this very fact is stopping them from doing so, since they'd get stuck with a lot of dollars.