Will this war save the dollar?
 

Interesting article in the Asian Times talking about the American dollar on the world stage. Of course, it's sure stir up some fuckin anti-american sentiment in some, but I'm curious about what some of you think...

Most of the central banks around the world hold the dollar as their reserve asset. But Saddam put a dent in it's value by selling his oil in euros rather than dollars, as a statement against America. Now there are a lot of countries moving towards euros as well. Even Saudis are now open to trading in both euro and the dollar.

Will putting these oil fields into the hands of Iraq's next government help reinflate other countries' confidence in the dollar?

Or is this article total bullshit?

http://www.atimes.com/atimes/Middle_East/ED08Ak01.html

The worlds ecconomy has had a nice boost over the last day or so and when it comes to deciding who governs the Iraqi oil I'll make sure my stocks are solid.

No matter who get's it, we won't have any benefits from it.

Who's "we"? Australians?

Hmmm. With all the posturing that goes on around here about how "this war is about oil", I'm surprised no one has an opinion on exactly HOW this war will affect the American dollar (directly or indirectly) after all is said and done.

Maybe we should go liberate some farmers and confiscate their BULLshit. Seems to be the only thing of any value around here.

:winkwink:

Exactly :(

no one knows how the dollar will be affected. just so many variables flying around that an economists with phd's couldn't figure it out.

Well, I was referring to it more in relation to the oil everyone loves to throw up as a reason for the war. It's a fact that Saddam was selling his oil for euros, and others were following suit, and this put a minor dent in the value of the dollar around the world. People around here love to say it's all about oil, but no one saying that seems to have any evidence backing up that claim. As if Americans would be the only country in the world benefitting from the "liberation" of the Iraqi oil fields from Saddam's regime. As if it was a BAD thing that Iraq as a nation would eventually see more of the economic benefits from it's oil trade than it ever did before.

Essencially, liberation of Iraqi oil is parallel with the liberation of the Iraqi people in the long run. And their prosperity.

Of course this war will benefit us... Just think of the billions in military equipment we will have to replace, and the billions that will be paid to American companies to rebuild Iraq. That is a lot of money flowing into our economy!

flowing into? the states will have to flip the bill for rebuilding iraq. chances are they'll be increasing the deficit by a ton.