Dutch Central Bank Sale Announcement Imminent? Message Board

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Politics : Dutch Central Bank Sale Announcement Imminent?

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To: sea_urchin who wrote (18019)	4/17/2003 8:04:16 AM
From: mcg404	Read Replies (1) of 81037

Searle: <However, according my simplistic view, in an open market a markup in prices doesn't, on its own, cause inflation > Here is something from the MDG board that supports and expands on your view: messages.yahoo.com <So, as I see it, inflation is the ultimate result of an increase in the national money-supply (ie printing more money or creating debt) and is instituted as a means to avoid recession by the state which attempts to intervene as a purchaser on account of the lack of purchasing power of the populace. Presumably, for inflation to occur world-wide all governments have to feel like this> Or they wish to reduce the relative value of their currencies (competitive devaluations) to maintain export driven economies? <In the late 1970s it was because of the massive increase in the oil price and the refusal of OPEC countries to accept US dollars for the purchase of their oil. > Have you seen this argument for the war? rense.com "This lengthy essay will discuss the macroeconomics of the "petro-dollar" and the unpublicized but real threat to U.S. economic hegemony from the euro as an alternative oil transaction currency...The Federal Reserve's greatest nightmare is that OPEC will switch its international transactions from a dollar standard to a euro standard. Iraq actually made this switch in Nov. 2000 (when the euro was worth around 80 cents), and has actually made off like a bandit considering the dollar's steady depreciation against the euro...Another underreported story from this summer regarding the other OPEC 'Axis of Evil' country and their interest in the selling oil in euros, Iran. (3) Iran's proposal to receive payments for crude oil sales to Europe in euros instead of U.S. dollars is based primarily on economics, Iranian and industry sources said. But politics are still likely to be a factor in any decision, they said, as Iran uses the opportunity to hit back at the U.S. government, which recently labeled it part of an "axis of evil." John

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