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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: B.REVERE who wrote (255142)	8/12/2003 12:01:34 AM
From: mishedlo	Read Replies (1) of 436258

If the $ weakens against other currencies then it does not matter what currency oil is priced in. It will be more expensive. If the $ implodes, oil prices are going higher even if the price is quoted in $ vs some other currency. I do not think the currency oil is quoted in matters one iota. The only way it would matter is oil was pegged to the $ like the Yuan is. 1 barrel = x$. For comparison purposes, gold is in a bull market here but not in other countries. The reason is the US$ is weakened. Would it help anyone if the POG to be quoted in $ vs euros? Would it matter if it was quoted in YEN. Would it have made any difference to the other countries if the price was quoted say in NZ dollars? I do not think it would matter 1 iota unless it was force pegged to some currency (price fixed).. Would it help me if I got a quote for CSCO in YEN or Euros? IMO It does not matter what the F something is quoted in if that something floats against other things. That is where this stupid argument about oil being priced in euros totally breaks down. I will give you a oil quote tomorrow in whatever currency you want. Tell me it matters. You can not. M

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