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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (106743)1/1/2007 7:52:07 PM
From: Skeeter Bug  Read Replies (1) of 132070
 
KT, i saw an interesting video on the petrol dollar. it seems saddam had started selling oil in euros about one year prior to being invaded. it looks like iran is now setting up to sell oil in euros.

it is speculated that the petrol dollar cycle dramatically inflates the demand for dollars and keeps it at a much higher level than it otherwise would be.

if the petrol dollars go to euros, it could get ugly. it seems more and more likely as time goes on.
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