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To: THE ANT who wrote (94475)9/12/2012 7:53:29 AM
From: elmatador  Respond to of 218361
 
Reserve currency status as bad as huge single commodity at premium price such as oil. I know what huge oil exports do to a country.

High exports revenue. Oligarchies and governing elites do not need taxes, thus do not need social contract with population.

Do what they want with the oil revenue surplus:

Nigeria

Middle East OPEC countries

Angola