SI
SI
discoversearch

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.
Strategies & Market Trends : Mish's Global Economic Trend Analysis
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: mishedlo who wrote (62173)1/17/2007 8:35:30 PM
From: Tommaso  Read Replies (1) of 116555
 
There has been discussion in Islamic countries of issuing a currency convertible to gold, and setting the price of oil in that currency. That would be the same as pricing oil in gold.

There is nothing to stop a sovereign oil-producing country from specifying what it will take for its oil.

Paper money and electronic bank balances, however, are a lot less trouble.

You say, "This is an incorrect argument."

It wasn't an argument at all. It was merely some reflections on unlikely possibilities.

If you want an argument, I can certainly give you an argument. For example, you say: "makes no more sense than attempting to set the price of oil in terms of bushels or corn or wheat." That is a truly insane statement. Corn and wheat are bulky, perishable, and troublesome to transport. Gold is the opposite in every respect: compact, durable, and easy to move from one place to another. If you contradict that, it is time, as they say, to seek professional help.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News