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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (69879)10/3/2007 12:51:56 AM
From: sea_biscuit  Respond to of 116555
 
But given that Iran and even Venezuela do not hold dollars regardless of the pricing unit, I would suspect that other countries find no bind either...

That is because neither Iran nor Venezuela have to pay for crude oil (for obvious reasons). But there is a reason why an oil purchaser like India likes to hold dollars in its reserves...



To: mishedlo who wrote (69879)10/3/2007 7:18:34 PM
From: Claude Cormier  Respond to of 116555
 
- But logically pricing unit is not a valid reason.

By itself. No. Again I agree with that. But you will have to agree with me that it is not logical for a provider of goods to keep its reserves in the USD pricing unit as long as the long term trend in this pricing unit is down.


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