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


To: RealMuLan who wrote (70576)10/28/2007 1:32:56 PM
From: mishedlo  Read Replies (6) | Respond to of 116555
 
Basket of Insanity at OPEC
globaleconomicanalysis.blogspot.com
OPEC is allegedly considering pricing oil in a basket of currencies. That makes no more sense to than it would to price bread in a basket of currencies. Sentiment is weighing on the US dollar and part of that is a shift out of dollars into Euros by oil producers. Pricing units however, are irrelevant. Discussion of baskets is just a political ploy

Mish