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Originally Posted by crockett
Exactly why do you think we have these guys investing so much in our country. The Saudis have a hell of a lot of investment in USD and in the US. In return we have a hell of a lot of investment in Saudi Arabia and several of the other key OPEC member's countries.
The USD has been the most stable currency since WW2 which is why it was chosen to be used for defacto oil sales. The USD is taking a hit right now, but it will eventually be back once our economy comes back around.
Iran wants to talk shit because they think they can. If Iran tried to swap oil to EURO's we would be invading or at the very least placing a trade embargo on them.
Not that I support it, but it's what would happen, just look at Iraq for the example.
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I agree with you but I feel we are seeing a gradual change at the moment
Quote:
Originally Posted by Phoenix
i dont think fucking with iran is goin to happen
too many other comuntries lost their oil contracts when the usa went into iraq
thus all the saber rattling
if the us were to invade iran..it will most likely start another global war
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Yea
I could see Russia and China getting very angry considering their investments in Iran oil.
Quote:
Originally Posted by noone1
How do so many people miss the point that in doing so, all the countries that have massive amounts of USD's and USD investments would be depreciating their assets beyond belief?
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If these countries started selling their US assets I'd start to get very concerned. Asian countries sold over $50 billions worth of US bonds and other investments over a month ago which weakened the dollar, a few other countries have already discussed unpegging their currency from the dollar, and some OPEC countries have discussed selling oil in other currencies, I find this alarming.
I see the dollar declining against all major currencies for at least another 1 or 2 years, in the mean time it will be interesting to see what other countries are doing with their US investments.
Quote:
Originally Posted by GreyWolf
It may be they will elect to quit sole reliance in the dollar at some point and spread the risk, but that will not happen overnight. If the dollar improves, doubt OPEC have any motivation for change, but if it continues to be unstable - it raises the chance of change.
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Yea I see a slow and gradual change and the dollar will continue to devalue.