Originally posted by Lenny2
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Every source I look at has Iran as the 4th largest exporter, whats your source ? -
Dount there is much disagreement on Iran being 4th Coatsy - despite minor ripples in the supply chain..
http://www.eia.doe.gov/emeu/cabs/topworldtables1_2.html
There have been verbals over OPEC valuing oil in currencies other than the US$ - for obvious reasons. Last I looked Iran was still a member of OPEC.
The projected effects of OPEC changing currencies is kinda severe for certain nations and would cause considerable economic upheaval and prob a decision not to be taken lightly. The effect on places like the US would be catastrophic.XXX TLD's - Another mosquito to swat.Comment
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Thats a nice sourceOriginally posted by Webby
So my point stands and is valid. If Iran does start trading their oil in euros and considering they have what ? 20% of the worlds oil then that would make the euros value increase and potentially could start a domino effect with at least 1 or 2 other OPEC members.
I think Iran realize that the damage they could inflict on America by changing to euros would be a lot greater than the damage that a nuclear bomb could doComment
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This thread... needs help.Comment
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4th largest so what?Originally posted by Coatsy
Go to your sources (you apparently have several of them) find out how many barrels a day they export. Then compare that to how many barrels are consumed worldwide per day.
Also, what Webby said is true as well. Iran would have to get all of OPEC to go along with them in order for oil to trade in euros (about as likely as my grandmother growing nuts and becoming my grandfather)
Of course they could leave OPEC and do whatever they want, but the effect would still be negligible.sig too bigComment
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http://www.washingtoninstitute.org/t...5.php?CID=2477
Khamenei did not specify how Iran would endanger hahaha8220;the shipment of energy.hahaha8221; Some commentators and politicians in the West speculate that Iran would merely stop its own oil exports in the hope that energy demand and supply are so finely balanced that this would tip the world economy into crisis. This would be risky for Iran. Despite an OPEC production quota of 4.11 million barrels per day, Iran exports only around 2.6 million barrels per day. Even this might be an overstatement. The Wall Street Journal reported on June 5 that for the last six weeks Iran has been storing on tankers the equivalent of 475,000 barrels per day, suggesting that Iran can threaten only about 2.1 million barrels per day in supply to world markets. This is a figure almost bridgeable by Saudi Arabiahahaha8217;s existing spare capacity, especially in light of a Journal report that Saudi production is currently down by 400,000 barrels per day.sig too bigComment
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Lutz hahahahahahahahaha is about rightOriginally posted by Lutz hahahahahahahahaha
And in case the real Lutzie comes back again....
What you actually are is an ex-bank thief. A guy who worked behind the counter of a bank for a few months till they caught you helping yourself to the cash.
The most you know about is scamming a few wealthy ladies out of money - and raping a few more. Not to forget all your other offenses where you spent time in jail.
You have nada income in Euros either - another lie form a career con man.
That invitation to free hospitality at Miami is still open - all ya got to do Lutzie is get sober and on that flight. There will be a crew waiting and a nice lady ready to listen to your excuses as to why you defrauded people.
PS After that... she may even pass you over to other jurisdictions where you are wanted.Last edited by Webby; 06-18-2006, 07:53 PM.XXX TLD's - Another mosquito to swat.Comment
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Wow, I never expected such a thoughtful discussion when I started this thread. Never underestimate the power of bitching.Sleep well, and dream of large women.
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These two graphs tell the story. If this were a company's financial report, would you buy stock in it? Of course not. So why is it any different when its the government?
National Debt
The national debt has climbed to alarming levels since the Federal Reserve was created in 1913.
Source: U.S. Treasury, Bureau of the Public Debt
Purchasing Power
As a result, the Federal Reserve Note (US dollar) has lost 96% of its purchasing power since 1913.
Source: U.S. Dept, of Labor, Bureau of Labor Statistics, CPIComment
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The dollar is worthless, buy gold and protect yourself from the devaluing of the dollar.
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my appartment is getting more expensive as real estate and i can't get the money from that because it is payed it dollars.Comment
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I didn't realize the world wide oil consumption was such a large figure, I've learnt quite a bit from this thread. Clearly you are right and I was wrong but at least now I'm better informed on the matter, so thanks for that.Originally posted by Lenny2Comment
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Do you run paysites ? If so you should consider charging at least your european surfers in euros, also try looking for more sources of traffic with a higher amount of european surfersOriginally posted by CristieComment
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It really does suck.. I still say though even for what the dollar is worth now I couldn't get the same amount for that money (same standard of living) in the US as I do here in Canada. I miss the days of 1.69 like anyone else does, but all in all not doing too bad anyways.Comment
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And the Canadian dollar being linked with oil is not helping matters..although the recent large dip again due to interest rates was some welcome relief.Comment
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fuckkkk!!Originally posted by BradMComment
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Well there are several reasons why it's different when it's the government.Originally posted by minusonebit
First and most obviously the government owns the printing press whereas a corporation does not.
Secondly the power to levy taxes on the largest economy in the world means that the ability to repay the debt will always be there.
I'm not happy about the deficit or the national debt, however as a percentage of our economy our debt was higher at the end of world war II than it is now, and coincidentally the end of world war II was also the beginning of the largest ever peacetime economic expansion in history.
The amount of money we owed at the end of the war was over 125% of our GDP.
That same $$ amount now is the equivalent of a rounding error in the federal budget.
While I agree that U.S. fiscal policy needs to change, buying U.S. government debt is the safest investment in the world.sig too bigComment
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I don't agree that Americans generally won't pay euros. We get really good ratios for us traffic and bill in euros. We have noticed a significant increase in non US traffic signups though, so its all good. Just don't try to charge 30Eur ... instead charge something like 27Eur which looks like a small discount, but still comes out well above $30US.
Anyhow more and more people are billing in euros because come payday you are simply getting more $, and the ratios (well as far as we can see) are just as good if not marginally better.IW
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It may be safe to a degree, but there sure are both more profitable and safer bets than buying into the debts of a country.Originally posted by Lenny2
What happened to Argentina? They followed the guidelines/recommendations of bankers and the IMF and got well screwed. What happens if OPEC does decide to trade oil, even partially, in other currencies? (Tho that would have a ripple effect around the world - not just in one country).XXX TLD's - Another mosquito to swat.Comment
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No it's not safe to a degree, it's the absolute safest investment in the world period.Originally posted by Webby
The U.S. Treasury's credit rating is the highest in the world. There is virtually zero credit risk for a U.S. government security.
That's why uncle sam can pay a lower interest rate than any other investment on the planet and still get all the money he needs.sig too bigComment
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Whatever you are smoking, pass it around because that must be some gooooood shit.Originally posted by Lenny2Comment
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Why is a country which is deep in debt and continues to accquire $10 Bill of debts daily, is unable to produce any trade surplus since the 60's, and currently with a sinking currency value, - the "absolute safest investment in the world"?Originally posted by Lenny2
This optimism is sure not shared by those in the US treasury or the rest of the world. There was a US treasury report released.. think spring of 2003. It was the most extensive report ever undertaken. The stats in that report were a horror story and, simplified, illustrated that 94% of all homes and the contents in them were the level of the national debt. Their "solution" was an immediate tax increase to 60% "for the forseeable future". Several years of uncontrolled monetary policy since that time has clearly made that situation worse.
It is unsustainable to continue borrowing and not paying for product purchased and, at the same time have little to offer in exports other than the only two remaining trade surpluses - wheat and arms.
There are plenty far more secure nations who are earning profits and do produce a balanced monetory policy than throw investment funds into the US.
That aside, there is no way on earth I'd be dumping money to waste in poor returns with any government.XXX TLD's - Another mosquito to swat.Comment
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The TD bank of Canada said earlier this week that they expect a good decrease in Canadian business for year 2007.
Let's cross finger and hope they are right and that America will put a human for president.
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