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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Bearcatbob who wrote (882)12/13/2004 3:21:40 PM
From: sea_biscuit  Read Replies (1) of 224724
 
It is not so much as to whether oil is cheap or not. It is about what currency oil is priced in. If oil were to be priced in some other reserve currency, then the greenback will go the way of the Argentinian peso in the 80's and 90's, given the current expanding budget and trade deficits.

The only alternatives were to either (a): come to a settlement with the euro and agree to trade the two currencies in a band or (b) invade Iraq (which was the first major oil-exporting country to switch to the euro). The Dumbya folks took option (b)

Now that the Iraq war has gone so badly, the Administration is on the way to realizing the very thing that it wanted to avoid.

The next 4 years will be interesting to watch. With the congress, the media and even the courts on its side, the Dumbya administration will be fully responsible for what happens.
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