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"you still need US dollars to buy oil" well as long as the oil producers are happy exchanging the world's economic lifeblood for paper IOU's which Ben Bernanke
by wintersFright 14y ago
"you still need US dollars to buy oil"
well as long as the oil producers are happy exchanging the world's economic lifeblood for paper IOU's which Ben Bernanke is devalueing as fast as he can. I wouldn't bet the current situation will continue much longer.
- raverbashing 14y ago"as long as the oil producers are happy exchanging the world's economic lifeblood for paper IOU" You can be sure they're still happy, especially producers like Saudi Arabia and Kuwait (and Canada, of course) Can they replace it? Sure, but there may be collateral effects, the harshest ones including 'Democracy delivery missiles' to said country. "which Ben Bernanke is devalueing as fast as he can" No problem! Barrel of oil yesterday was $X today it's $X+Y
- wintersFright 14y ago>>Barrel of oil yesterday was $X today it's $X+Y So as a vendor of goods, you won't mind if you are continually repricing the goods you sell today because the paper you received for the goods sold yesterday doesn't cover the value you expected? As a vendor I think you would start looking for a different medium of exchange. You most certainly would use a different store of value.