Quote:
Originally Posted by Linkster
Just waiting for the Saudis to announce moving their oil over to Euros - should happen any day now - and then pull all of their dollar investments - they already gave the first indication this week by not changing their interest rate as they have every other time the US has
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Yeah interesting movement from the Saudis.
In 2001 Saddam Hussein also wanted to sell his oil in Euros. Result? US (and friends) invaded his country, installed a new government, and killed him. Now the oil is being traded in dollars again.
Oil can only be traded in USD - if it wasn't for the oil the dollar system would collapse.
Should any country get the insane idea of trading oil in other currencies than the dollar - then USA would intervene with its superior military power.
Modern pirates! Yarh!