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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: skinowski who wrote (66657)7/15/2007 11:18:56 PM
From: Webster Groves  Read Replies (1) of 116555
 
I said foreign stocks and commodities, nothing about foreign currencies.

Regarding oil again, as more international oil is taken off the NY and London trading markets, and instead traded by bilateral agreement between user and producer, the need for the dollar in international trade is diminished, and with that the influence of NY and London on world markets. You may feel one can interchangeably trade contracts and currencies electronically, and so the difference is minimal, but the difference is large if you are Iran and no European bank will take your dollars.

wg
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