You may have #3 backwards (and also have the reason people want dollars backwards; it has very little to do with nominal oil pricing). I suggest reading http:/

You may have #3 backwards (and also have the reason people want dollars backwards; it has very little to do with nominal oil pricing). I suggest reading http://mpettis.com/2011/05/is-it-time-for-the-us-to-disengage-the-world-from-the-dollar/ http://mpettis.com/2011/05/is-it-time-for-the-us-to-disengag... for the former and any competent explanation of international trade mechanisms for the latter.