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To: Sea Otter who wrote (71405)11/19/2007 3:42:57 PM
From: Travis_Bickle  Read Replies (1) | Respond to of 116555
 
What would the oil producing nations do with the gold? Convert it into currency, probably dollars.

Might as well save the middle step and sell it in currency.



To: Sea Otter who wrote (71405)11/19/2007 4:36:26 PM
From: mishedlo  Respond to of 116555
 
It would not matter one bit if they priced it in gold given that gold to currency is a quick conversion.

Now, if they demanded payment in physical gold, that would be a different matter.

Mish


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