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What they can't just start trading in Euro? Do they have some sort of contract or is there some sort of law which says you can trade oil only in dollars? I thi
by Ardit20 16y ago
What they can't just start trading in Euro? Do they have some sort of contract or is there some sort of law which says you can trade oil only in dollars?
I think if the dollar became a fonny currency people would switch quickly. It would for example not make any sense for a British man to trade in dollars if he gets say one pence for every dollar. Especially if by the next day it is worth 0.5 pence.
- gaius 16y agoWell there is a conspiracy theory that Iraq was invaded because it was on the verge of switching to EUR, and if it had OPEC would have followed and the dollar would have collapsed, taking the US economy with it.
- lsc 16y agoat the risk of sounding crazy, has there been a more rational explanation for our actions?
- deleted 16y ago[deleted]
- gaius 16y agoIf there was, I haven't heard it. The idea it was about securing access to oil is laughable. The oil isn't in Baghdad, the oilfields are out in the middle of nowhere. They could have been taken and held without going anywhere near the cities. Plus there is the small matter that we already know how to get oil from Middle Eastern countries... We buy it.