PEAK OIL - The New Y2K or The Beginning of the Real End? Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : PEAK OIL - The New Y2K or The Beginning of the Real End?

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Doug R	5/6/2005 3:32:55 PM
	Read Replies (1) of 1183

An interesting take on the US economy vs renewables and other alternatives: "US economic hegemony is founded on the use of the dollar as the only currency accepted for international oil transactions. This requires each nation to maintain large dollar reserves in its central bank, permitting the US to print limitless quantities of paper money to finance its enormous trade and budget deficits, confident that the global demand for the dollar will prevent the natural inflation. Any disruption of this system, such as a shift to the euro among the world’s oil producers, would entail a plummeting demand for it and overnight inflation would knock the bottom out of the dollar. Similarly, a change in energy source instead of currency would destroy the ability of the US to float the value of the dollar on top of global demand for the currency required in exchange for the world’s most vital resource. The United States has a stake in keeping the world a slave to dollar-denominated oil dependency to prevent the destabilization of its economy." lefthook.org

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next