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We will see. Right now when Spain buys oil from Norway (EU member and European Economic Area member) they (have to?) use US Dollars, which is insanity from the

We will see. Right now when Spain buys oil from Norway (EU member and European Economic Area member) they (have to?) use US Dollars, which is insanity from the perspective of both countries. Ghadaffi wanted to trade oil for Euros and we all know how it end up.

alex_duf 7y ago
I'm not sure if you're referring to Gaddafi's death, but there's strong suspicion he's dead because he talked a bit too loudly about financing the campaign of Nicolas Sarkozy https://www.theguardian.com/world/2018/mar/20/nicolas-sarkozy-police-custody-french-president-campaign-funding-libya https://www.theguardian.com/world/2018/mar/20/nicolas-sarkoz...
- tim333 7y ago
  He did a lot of things to piss off a lot of people. It's hard to pick out one particular one.
navigatesol 7y ago
>Right now when Spain buys oil from Norway (EU member and European Economic Area member) they (have to?) use US Dollars, which is insanity from the perspective of both countries. Instead of converting from Krone to Euros and vice versa, you convert into the largest, most stable, most liquid currency on the planet. What is insane? >Ghadaffi wanted to trade oil for Euros and we all know how it end up. Ah yes, Ghadaffi, Sadam Hussein...good men overthrown because they wanted to "trade oil for Euros". Wait; why couldn't they again? What, precisely was stopping them from dealing in Euro, besides the seller or buyer of oil demanding to be use USD? Right, nothing. The idea that the US forces people to trade in USD as opposed to it working out that way because it's a stable currency of a powerful nation is a fallacy that won't die. Just like within the country, you are free to trade in whatever the hell currency you want...if you can find a willing counter-party.
- poiuyt098 7y ago
  > Wait; why couldn't they again? Due to getting hanged, shot, or stabbed, probably.
tim333 7y ago
They don't have to use dollars. I'm sure Norway would accept Euros. They may well use dollars for convenience as it's the most common currency for oil trading.

alex_duf 7y ago

I'm not sure if you're referring to Gaddafi's death, but there's strong suspicion he's dead because he talked a bit too loudly about financing the campaign of Nicolas Sarkozy https://www.theguardian.com/world/2018/mar/20/nicolas-sarkozy-police-custody-french-president-campaign-funding-libya https://www.theguardian.com/world/2018/mar/20/nicolas-sarkoz...

tim333 7y ago
He did a lot of things to piss off a lot of people. It's hard to pick out one particular one.

navigatesol 7y ago

>Right now when Spain buys oil from Norway (EU member and European Economic Area member) they (have to?) use US Dollars, which is insanity from the perspective of both countries. Instead of converting from Krone to Euros and vice versa, you convert into the largest, most stable, most liquid currency on the planet. What is insane? >Ghadaffi wanted to trade oil for Euros and we all know how it end up. Ah yes, Ghadaffi, Sadam Hussein...good men overthrown because they wanted to "trade oil for Euros". Wait; why couldn't they again? What, precisely was stopping them from dealing in Euro, besides the seller or buyer of oil demanding to be use USD? Right, nothing. The idea that the US forces people to trade in USD as opposed to it working out that way because it's a stable currency of a powerful nation is a fallacy that won't die. Just like within the country, you are free to trade in whatever the hell currency you want...if you can find a willing counter-party.

poiuyt098 7y ago
> Wait; why couldn't they again? Due to getting hanged, shot, or stabbed, probably.

tim333 7y ago

They don't have to use dollars. I'm sure Norway would accept Euros. They may well use dollars for convenience as it's the most common currency for oil trading.