because they neither stock nor pile, do not match assets to liability, and, perhaps, do not buy things at all :0)
should one must buy oil quoted in seashells and settled with seashells, i would think all the beaches and oceans would be emptied of seashells, and piled high at CBs ;0)
and should one be unable to use us dollars to settle any trade, us dollars would cease to exist.
the truth ought to be intuitively obvious to the most casual of passing observers while riding by at speed on horseback, with both horse and rider wearing eyeglasses
i will bet you that folks who believe otherwise would also believe that inflation is beneficial, or at least inflation targeting ought to be given a chance, or that the depression would not have happened had the officialdom simply released more money, and had never read this book knowledgerush.com
should the iranian bourse come into being, or any other euro-denominate oil bourse come into being, it would open the way for sino-russian and japan-russian oil being settled in euro, and so forth, the trend extends, onward to grain, and metals, and ... before one knows it, teotwawki dawn
chugs, j |
