President of OPEC calls USD "useless piece of paper" - GoFuckYourself.com

tehHinjew · 11-18-2007, 10:30 PM

whats your take on that??

hopefully the prices remain normal

jeffrey · 11-18-2007, 10:32 PM

Hopefully they move to the Canadian Dollar, or well the Euro.

Spunky · 11-18-2007, 10:32 PM

Money is overrated

After Shock Media · 11-18-2007, 10:45 PM

If they do switch to the Euro it will radically effect everyones economy in a major way. I know there is a lot of anti american fuck the dollar ideology around here. Though think about how your costs will rise if they do base it on the Euro. Right now you get energy prices in american dollars. When that doubles or so, even the mighty Euro would get slammed and then you all would end up paying double what you pay now.

minusonebit · 11-18-2007, 10:46 PM

Well, the US Dollar is worthless, always has been since day one.

After Shock Media · 11-18-2007, 10:48 PM

Minus, you happen to be one of the most idiotic peron with missguided knowledge on here, and sadly otherwise you would and could be an intellegent person.

Meta man · 11-18-2007, 10:50 PM

Goddamn camel jockeys

DEA - banned for life · 11-18-2007, 10:50 PM

wasnt the presifent of opec..it was irans president armididijan

crockett · 11-18-2007, 10:56 PM

Quote:

Originally Posted by jeffrey

Hopefully they move to the Canadian Dollar, or well the Euro.

You guys are crazy if you think it should be moved to Euro's or Canadian dollars.

You do realise oil is much cheaper right now because it's sold in US dollars. Sell it in Euros and it's going to be even worse. You guys just dunno how good you have it with the price of oil due to the weak US dollar.

The Other Steve · 11-18-2007, 10:57 PM

A currency trader suggested to me that if OPEC was ever going to change from the US dollar we should look to see which currency was appreciating against all the others - and that's the one that OPEC would pick.

I could be mistaken but I don't think that, while all the currencies are appreciating against the USD none of them are appreciating against any other currency.

minusonebit · 11-18-2007, 11:00 PM

Quote:

Originally Posted by After Shock Media

Minus, you happen to be one of the most idiotic peron with missguided knowledge on here, and sadly otherwise you would and could be an intellegent person.

Prove to me that the USD Dollar has now - or ever had - value and I will let you shove that statement up my ass. Its worthless fiat. Backed by "the full credit and faith of the United States Government". How much, exactly, is something that is backed by the full faith and credit of a country that is $7 trillion dollars in debt worth? Its not like the US Dollar is a TV or something, that you can use for anything other than buying stuff. It has no dual purpose. At least you can take a TV overseas and pawn it for what, 20 yen or something.

xmas13 · 11-18-2007, 11:04 PM

Asians, Europeans and other non-Americans should not have to buy USD in order to pay for oil.

The government doesn't want oil to be traded in any currency because America super wealth relies on both cheap oil and the dollar as world's reserve currency. The Federal Reserve makes a killing by selling USD (99 cent profit on the dollar) to foreign suckers.

It's a post WW2 legacy enforced by the US Army in the Middle East.

V_RocKs · 11-18-2007, 11:06 PM

I suggest to him to use Euros then and stop using USD and see where it gets him....

crockett · 11-18-2007, 11:08 PM

Quote:

Originally Posted by V_RocKs

I suggest to him to use Euros then and stop using USD and see where it gets him....

It will get him the same place Saddam is.

xmas13 · 11-18-2007, 11:08 PM

The US economy would collapse if OPEC countries broke this currency monopoly.

Oil is the most traded commodity in the world with a trade value now in the trillions of dollars, and foreigners must buy USD from the Federal Reserve to pay for it.

It's a scam enforced by the US Army.

xmas13 · 11-18-2007, 11:10 PM

The EUR won't replace the USD, we will just switch to a multi -currency global monetary system, and probably closer to real value rather than paper.

Violetta · 11-18-2007, 11:11 PM

I hope it stays the way it is... though I understand I am the only one wanting that lol

pocketkangaroo · 11-18-2007, 11:18 PM

Quote:

Originally Posted by minusonebit

Prove to me that the USD Dollar has now - or ever had - value and I will let you shove that statement up my ass. Its worthless fiat. Backed by "the full credit and faith of the United States Government". How much, exactly, is something that is backed by the full faith and credit of a country that is $7 trillion dollars in debt worth? Its not like the US Dollar is a TV or something, that you can use for anything other than buying stuff. It has no dual purpose. At least you can take a TV overseas and pawn it for what, 20 yen or something.

Every major country in the world is based on fiat currency. Are you saying that every country in the world has a currency with no value?

xmas13 · 11-18-2007, 11:20 PM

D · 11-18-2007, 11:39 PM

Quote:

Originally Posted by minusonebit

Prove to me that the USD Dollar has now - or ever had - value and I will let you shove that statement up my ass.

"Value," as defined by dictionary.com:

"2. monetary or material worth, as in commerce or trade"

Take a $1 bill. Go to the candy store. Tell the gentleman you'd like a pack of gum. Give him the $1 bill. He will give you a pack of gum, and maybe even some change back.

ergo, the dollar bill has value in the present.

Q.E.D.

Time to lube up the ass... I hear ASM uses a big font text.

L-Pink · 11-18-2007, 11:40 PM

Quote:

Originally Posted by minusonebit

Well, the US Dollar is worthless, always has been since day one.

It's bought a lot of shit for me

L-Pink · 11-18-2007, 11:43 PM

Quote:

Originally Posted by minusonebit

Prove to me that the USD Dollar has now - or ever had - value and I will let you shove that statement up my ass. Its worthless fiat. Backed by "the full credit and faith of the United States Government". How much, exactly, is something that is backed by the full faith and credit of a country that is $7 trillion dollars in debt worth? Its not like the US Dollar is a TV or something, that you can use for anything other than buying stuff. It has no dual purpose. At least you can take a TV overseas and pawn it for what, 20 yen or something.

You are priceless, clueless, but priceless!

.

Phil · 11-18-2007, 11:47 PM

Quote:

Originally Posted by minusonebit

Prove to me that the USD Dollar has now - or ever had - value and I will let you shove that statement up my ass. Its worthless fiat. Backed by "the full credit and faith of the United States Government". How much, exactly, is something that is backed by the full faith and credit of a country that is $7 trillion dollars in debt worth? Its not like the US Dollar is a TV or something, that you can use for anything other than buying stuff. It has no dual purpose. At least you can take a TV overseas and pawn it for what, 20 yen or something.

Im starting to like you.

Phil · 11-18-2007, 11:50 PM

Quote:

Originally Posted by L-Pink

You are priceless, clueless, but priceless!

.

You’re pretty much certified idiot. For some reason you’re more active than any other day.

Snake Doctor · 11-18-2007, 11:52 PM

Thread title is bullshit.

It wasn't the president of OPEC who said that, it was the nutjob from Iran who says the holocaust didn't really happen.

Snake Doctor · 11-18-2007, 11:54 PM

Quote:

Originally Posted by minusonebit

Prove to me that the USD Dollar has now - or ever had - value and I will let you shove that statement up my ass. Its worthless fiat. Backed by "the full credit and faith of the United States Government". How much, exactly, is something that is backed by the full faith and credit of a country that is $7 trillion dollars in debt worth? Its not like the US Dollar is a TV or something, that you can use for anything other than buying stuff. It has no dual purpose. At least you can take a TV overseas and pawn it for what, 20 yen or something.

You are so fucking wrong it's not even close.

We are $9 trillion in debt.

Snake Doctor · 11-18-2007, 11:58 PM

Quote:

Originally Posted by DEA

wasnt the presifent of opec..it was irans president armididijan

LOL...the way you spelled his name reminds me of that fantasy football commercial.

TJ Hooshmazood.

TJ Whose-yo-mamma

Championship

L-Pink · 11-18-2007, 11:59 PM

Quote:

Originally Posted by CAMOKAT

You?re pretty much certified idiot. For some reason you?re more active than any other day.

Cool, you want to hang out or something?

minusonebit · 11-19-2007, 12:00 AM

Quote:

Originally Posted by CAMOKAT

You?re pretty much certified idiot. For some reason you?re more active than any other day.

Quoted for truth.

minusonebit · 11-19-2007, 12:09 AM

Quote:

Originally Posted by Snake Doctor

You are so fucking wrong it's not even close.

We are $9 trillion in debt.

I stand corrected then.

And actually, if you want to be exact, its: $ 9 , 1 1 8 , 1 7 9 , 9 4 7 , 1 7 9 . 9 2 as of 07:07:11 AM GMT.

Truth of the matter is, it stopped really mattering when it started to race out of control. For this country, $9.1 trillion may as well be $910 trillion.

Snake Doctor · 11-19-2007, 12:12 AM

Quote:

Originally Posted by minusonebit

I stand corrected then.

And actually, if you want to be exact, its: $ 9 , 1 1 8 , 1 7 9 , 9 4 7 , 1 7 9 . 9 2 as of 07:07:11 AM GMT.

Truth of the matter is, it stopped really mattering when it started to race out of control. For this country, $9.1 trillion may as well be $910 trillion.

I disagree. As a % of GDP our debt has been higher than this before. In particular after WWII.

I concede that we can't sustain our current course indefinitely, but once the current administration is gone I think alot of things are going to change for the better, our fiscal situation being one of them.

baddog · 11-19-2007, 12:15 AM

Quote:

Originally Posted by CAMOKAT

Im starting to like you.

What a nice couple you would make.

minusonebit · 11-19-2007, 12:20 AM

Worth More Than $100 USD: (Then and Now)

Phil · 11-19-2007, 12:25 AM

Quote:

Originally Posted by L-Pink

Cool, you want to hang out or something?

Sure, I’ll let you lick my left nut.

minusonebit · 11-19-2007, 12:29 AM

Another piece of real money. Hey, their money was even prettier. It was fiat too, but at least it stood for something. If I am gonna have worthless money in my pocket, I'd rather have something that at least stands for something.

Phil · 11-19-2007, 12:30 AM

Quote:

Originally Posted by baddog

What a nice couple you would make.

Don’t even go there old man. You may be riding a bike and take shit load of pictures of hot girls but we all know what you get to fuck at the end of the day

Snake Doctor · 11-19-2007, 12:34 AM

Quote:

Originally Posted by CAMOKAT

Don?t even go there old man. You may be riding a bike and take shit load of pictures of hot girls but we all know what you get to fuck at the end of the day

I would totally hit that

D · 11-19-2007, 12:54 AM

Quote:

Originally Posted by tehHinjew

President of OPEC calls USD "useless piece of paper"

Please cite your source.

Jet - BANNED FOR LIFE · 11-19-2007, 01:04 AM

Life is all about change and cycles ... start getting used to it!

After Shock Media · 11-19-2007, 01:06 AM

Quote:

Originally Posted by minusonebit

Prove to me that the USD Dollar has now - or ever had - value and I will let you shove that statement up my ass. Its worthless fiat. Backed by "the full credit and faith of the United States Government". How much, exactly, is something that is backed by the full faith and credit of a country that is $7 trillion dollars in debt worth? Its not like the US Dollar is a TV or something, that you can use for anything other than buying stuff. It has no dual purpose. At least you can take a TV overseas and pawn it for what, 20 yen or something.

Ever had been - when it was on the gold standard. Ok prepare the lube.

Currently - it is backed by the taxation of its citizens and the assets it controls. Not to mention we literally have trillions of dollars in uncollected loans to other countries. Most of which we have never bothered to try collecting back. Now we may be 7 trillion in debt. We do have enough resources and the like to keep any investor satisfied. Not to mention the citizens personal assets cause to keep in mind most of that is in debt fashion and could be collected by any company or country that purchased such debts.

There are very few dual currencies though. Nearly all are paper. Sure many may be backed by gold but good luck getting that gold. Then again gold is only valuable because we all agree that it is. Aside from select scientific and conductivity uses it otherwise is a useless metal that just happens to be slightly rare. Thus that places it in the same category as diamonds, which are immensely worthless outside of construction and drilling. Regardless though even with our dollar not based on gold, the nation itself does maintain a large reserve of gold in order to deal with foreign countries.

L-Pink · 11-19-2007, 01:08 AM

Quote:

Originally Posted by D

Please cite your source.

I think he meant Iran, not OPEC.

Phil · 11-19-2007, 01:12 AM

Quote:

Originally Posted by Snake Doctor

I would totally hit that

ICQ here: 16075497
she's all yours

pocketkangaroo · 11-19-2007, 02:40 AM

I am amazed at how many people don't have a basic understanding of economics.

pocketkangaroo · 11-19-2007, 02:51 AM

Quote:

Originally Posted by minusonebit

Another piece of real money. Hey, their money was even prettier. It was fiat too, but at least it stood for something. If I am gonna have worthless money in my pocket, I'd rather have something that at least stands for something.

Money is money, it doesn't "stand" for anything.

But if you must convince yourself that Confederate currency "stood" for something, note that much of their currency had images of slaves picking and loading cotton.

GreyWolf · 11-19-2007, 03:07 AM

Quote:

President of OPEC calls USD "useless piece of paper"

No he didn't

The main mutterings from the President of OPEC have been to ask western industrialized countries and others with increasing energy needs to cut their requirement for oil and find alternative energy sources. Mohamed Al Hamli never offered his opinion as to whether the US dollar is a "useless piece of paper".

Spudstr · 11-19-2007, 06:48 AM

Quote:

Originally Posted by crockett

You guys are crazy if you think it should be moved to Euro's or Canadian dollars.

You do realise oil is much cheaper right now because it's sold in US dollars. Sell it in Euros and it's going to be even worse. You guys just dunno how good you have it with the price of oil due to the weak US dollar.

Yes worse for us and everyone but great for OPEc.. which is all OPEC really cares about.

Linkster · 11-19-2007, 07:02 AM

All of this speculating is useless - why not post actual facts - like one OPEC nation has already swapped over to only selling oil in Euros instead of dollars - Qatar - and the reason Iran is in the spotlight from the US point of view (although everyone beats their chest about nuke this and that) is that they have already started swapping their sales over to Euros to avoid the UN sanctions - and being that they are one of the largest producers - the US is extremely worried if they were to completely change over - so the administration is scaring the US public into thinking that there is some issue with nuclear to ensure that the UN sanctions get toughened

If you dont know the real story - dont make yourself look like an idiot

jalami · 11-19-2007, 08:05 AM

Back when a US dollar was 1/35 troy oz of gold, backed by physical reserves, it was more than a useless piece of paper.

Of course a metal like gold only has the value we assign to it too. But you can't just print more gold.

czarina · 11-19-2007, 08:18 AM

here we go again... we should see the price of the dollar plummet again today, darn it!

Phoenix · 11-19-2007, 08:22 AM

Quote:

Originally Posted by The Other Steve

A currency trader suggested to me that if OPEC was ever going to change from the US dollar we should look to see which currency was appreciating against all the others - and that's the one that OPEC would pick.

I could be mistaken but I don't think that, while all the currencies are appreciating against the USD none of them are appreciating against any other currency.

please keep logic to a minimum

rather try yelling insults or threatening someone...thanks

11-18-2007, 10:30 PM	#1
tehHinjew Confirmed User Join Date: Sep 2006 Location: MTL Posts: 5,755	President of OPEC calls USD "useless piece of paper" whats your take on that?? hopefully the prices remain normal __________________ Hot Porn Wanna trade? email me at wanker (@) wanknation dot com

11-18-2007, 10:32 PM	#2
jeffrey Confirmed User Industry Role: Join Date: Jul 2004 Location: Alberta Posts: 1,864	Hopefully they move to the Canadian Dollar, or well the Euro. __________________ Coming Soon!

11-18-2007, 10:32 PM	#3
Spunky I need a beer Industry Role: Join Date: Jun 2002 Location: ♠ Toiletville ♠ Posts: 133,944	Money is overrated __________________ *YOUR INFORMATION HERE*

11-18-2007, 10:45 PM	#4
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	If they do switch to the Euro it will radically effect everyones economy in a major way. I know there is a lot of anti american fuck the dollar ideology around here. Though think about how your costs will rise if they do base it on the Euro. Right now you get energy prices in american dollars. When that doubles or so, even the mighty Euro would get slammed and then you all would end up paying double what you pay now. __________________ [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

11-18-2007, 10:48 PM	#6
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	Minus, you happen to be one of the most idiotic peron with missguided knowledge on here, and sadly otherwise you would and could be an intellegent person. __________________ [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

11-18-2007, 10:46 PM	#5
minusonebit So Fucking Banned Join Date: Feb 2006 Location: [email protected] Posts: 7,391	Well, the US Dollar is worthless, always has been since day one.

11-18-2007, 10:50 PM	#7
Meta man So Fucking Banned Join Date: Aug 2007 Location: Your mom's bedroom Posts: 53	Goddamn camel jockeys

11-18-2007, 10:50 PM	#8
DEA - banned for life V.I.P. Join Date: Nov 2004 Location: InYour Head Posts: 7,886	wasnt the presifent of opec..it was irans president armididijan

11-18-2007, 10:57 PM	#10
The Other Steve Confirmed User Join Date: Dec 2001 Location: Sunny Queensland - perfect one day and better the next. Posts: 2,106	A currency trader suggested to me that if OPEC was ever going to change from the US dollar we should look to see which currency was appreciating against all the others - and that's the one that OPEC would pick. I could be mistaken but I don't think that, while all the currencies are appreciating against the USD none of them are appreciating against any other currency. __________________ Left intentionally blank ... just like my brain

11-18-2007, 11:04 PM	#12
xmas13 Confirmed User Join Date: Dec 2004 Location: GFY Posts: 5,176	Asians, Europeans and other non-Americans should not have to buy USD in order to pay for oil. The government doesn't want oil to be traded in any currency because America super wealth relies on both cheap oil and the dollar as world's reserve currency. The Federal Reserve makes a killing by selling USD (99 cent profit on the dollar) to foreign suckers. It's a post WW2 legacy enforced by the US Army in the Middle East. __________________ ICQ 557504926

11-18-2007, 11:06 PM	#13
V_RocKs Damn Right I Kiss Ass! Industry Role: Join Date: Dec 2003 Location: Cowtown, USA Posts: 32,409	I suggest to him to use Euros then and stop using USD and see where it gets him....

11-18-2007, 11:08 PM	#15
xmas13 Confirmed User Join Date: Dec 2004 Location: GFY Posts: 5,176	The US economy would collapse if OPEC countries broke this currency monopoly. Oil is the most traded commodity in the world with a trade value now in the trillions of dollars, and foreigners must buy USD from the Federal Reserve to pay for it. It's a scam enforced by the US Army. __________________ ICQ 557504926

11-18-2007, 11:10 PM	#16
xmas13 Confirmed User Join Date: Dec 2004 Location: GFY Posts: 5,176	The EUR won't replace the USD, we will just switch to a multi -currency global monetary system, and probably closer to real value rather than paper. __________________ ICQ 557504926

11-18-2007, 11:11 PM	#17
Violetta Affiliate Join Date: Jul 2004 Posts: 28,735	I hope it stays the way it is... though I understand I am the only one wanting that lol __________________ M&A Queen

11-18-2007, 11:20 PM	#19
xmas13 Confirmed User Join Date: Dec 2004 Location: GFY Posts: 5,176	__________________ ICQ 557504926

11-18-2007, 11:52 PM	#25
Snake Doctor I'm Lenny2 Bitch Join Date: Mar 2001 Location: On top of my soapbox Posts: 13,449	Thread title is bullshit. It wasn't the president of OPEC who said that, it was the nutjob from Iran who says the holocaust didn't really happen. __________________ sig too big

11-19-2007, 12:20 AM	#33
minusonebit So Fucking Banned Join Date: Feb 2006 Location: [email protected] Posts: 7,391	Worth More Than $100 USD: (Then and Now)

11-19-2007, 12:29 AM	#35
minusonebit So Fucking Banned Join Date: Feb 2006 Location: [email protected] Posts: 7,391	Another piece of real money. Hey, their money was even prettier. It was fiat too, but at least it stood for something. If I am gonna have worthless money in my pocket, I'd rather have something that at least stands for something.

11-19-2007, 01:04 AM	#39
Jet - BANNED FOR LIFE So Fucking Banned Join Date: Sep 2002 Posts: 7,515	Life is all about change and cycles ... start getting used to it!

11-19-2007, 02:40 AM	#43
pocketkangaroo Confirmed User Join Date: Jan 2005 Location: Chicago, IL Posts: 8,452	I am amazed at how many people don't have a basic understanding of economics.

11-19-2007, 07:02 AM	#47
Linkster Confirmed User Join Date: Feb 2003 Location: DeltaHell Posts: 3,216	All of this speculating is useless - why not post actual facts - like one OPEC nation has already swapped over to only selling oil in Euros instead of dollars - Qatar - and the reason Iran is in the spotlight from the US point of view (although everyone beats their chest about nuke this and that) is that they have already started swapping their sales over to Euros to avoid the UN sanctions - and being that they are one of the largest producers - the US is extremely worried if they were to completely change over - so the administration is scaring the US public into thinking that there is some issue with nuclear to ensure that the UN sanctions get toughened If you dont know the real story - dont make yourself look like an idiot __________________ Porn Links Crak for your bank account - Get Addicted FREE LIVE CAM SHOWS

11-19-2007, 08:05 AM	#48
jalami Confirmed User Industry Role: Join Date: May 2004 Location: Costa Rica Posts: 845	Back when a US dollar was 1/35 troy oz of gold, backed by physical reserves, it was more than a useless piece of paper. Of course a metal like gold only has the value we assign to it too. But you can't just print more gold. __________________ IntegralPay LLC \| www.integralpay.com Payment solutions outside the box! Ask about credit card, electronic checks, and alternative payments processing

11-19-2007, 08:18 AM	#49
czarina Webmaster Extraordinaire Industry Role: Join Date: Jul 2002 Location: A beautiful beach... Posts: 10,748	here we go again... we should see the price of the dollar plummet again today, darn it!