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Politics : Don't Blame Me, I Voted For Kerry -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (24753)	5/22/2004 10:04:13 PM
From: nspolar	Read Replies (2) \| Respond to of 81568

I do not see any point you are trying to make, or have made. Dollar is not reserve currency of the world, gold probably is and always will be. Oil can be priced and paid for in any currency, no problem. Price paid in any currency is dependent on market dynamics for oil, and value of that currency. Currency markets are huge, and dwarf total oil transactions. I suspect at some point in the future oil will be quoted in Euros or Yuan, just as frequently on a worldwide basis as it is in dollars. Over here of course it will continue to be dollars, which will continue to make guys like you think the dollar is the center of the universe. I recently went to Spain. Dollar was not center of universe there. Euros were. Americans do not necessarily dominate planet Earth, although many of them have a tendency to think we do. In the future our position will erode w/r to what it is today. I do not have a problem with that, as a lot of other countries need to catch up. Dollar will continue to erode in value relative to most other currencies, hence the liklihood that the price of oil in dollars will continue to increase. Eventually dollar will bottom and the situation will reverse. But ... this is likely a few years yet in the future.