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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Claude Cormier who wrote (50484)1/20/2006 8:54:08 PM
From: Tommaso  Read Replies (1) of 110194
 
>>> If you can pay for oil with Euros, don't you have less incentive to hold $US dollars. So it means that more USD would come back to the US from that pipeline<<<

Eventually those dollars are claims on services and property and goods in the United States, which is the only place where they are legally required to be accepted as payment for debts. The whole complex, however, or foreign exchange escaped my imagination. Clearly SOMETHING is needed for international debt settlement and even now the most important thing is U.S. fiat dollars.

I think you and I have the same views about the U. S. dollar. It's just I think oil is a better place as a store of value while you think gold is better.
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