Author Topic: Russain Oil is tradeable in Euro (Read 1652 times)

crabofix · « **on:** October 10, 2003, 09:06:16 AM »

Whats Gonna Happend Now?

link For thoose who can translate Swedish.

Here

ra · « **Reply #1 on:** October 10, 2003, 09:40:24 AM »

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If Russia goes ahead it might start a chain reaction that would seriously hurt US economy since the oil trade in $ allows the US to print large amounts of $ without the risk of inflation.

Huh?

Krusher · « **Reply #2 on:** October 10, 2003, 09:44:52 AM »

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Originally posted by ra
Huh?

with a very large percent of the worlds GDP tied directly to US markets we will see how well this goes over in the long run. I am betting its a large bluff that will back fire in the long run.

Kieran · « **Reply #3 on:** October 10, 2003, 09:52:15 AM »

The sun will still come up tomorrow, that's what.

In addition... this war in Iraq did not cause OPEC or Russia or anyone else to suddenly want to trade in Euros... these countries are only trying to position themselves for a bigger piece of the pie. Believe it or not, America was detested before the war, and there are many countries that wouldn't mind at all seeing the Euro being the unit of trade... France chief amongst them. Whether or not the war happened, we'd be having this discussion sooner or later.

Let it happen. We'll survive it. These countries still want us to buy their oil, don't they.

C'mon, fuel cell research...

muckmaw · « **Reply #4 on:** October 10, 2003, 10:20:30 AM »

The whole world can't wait to see the USA fall....

crabofix · « **Reply #5 on:** October 10, 2003, 10:30:20 AM »

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Originally posted by muckmaw
The whole world can't wait to see the USA fall....

Its not about the fall of US, its like a poker game, you guys been anting up like having a full house and finely the world wants to see your cards, and you show a pair of 2´s.

muckmaw · « **Reply #6 on:** October 10, 2003, 10:45:08 AM »

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Originally posted by crabofix
Its not about the fall of US, its like a poker game, you guys been anting up like having a full house and finely the world wants to see your cards, and you show a pair of 2´s.

What is it with Nordic countries and an over inflated sense of self-worth?

You sure you were'nt a French colony at one time?

crabofix · « **Reply #7 on:** October 10, 2003, 11:05:12 AM »

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Originally posted by muckmaw
What is it with Nordic countries and an over inflated sense of self-worth?

You sure you were'nt a French colony at one time?

The first mentions of the place where I live (named, in historic books) comes from 800 AD. The oldest church was buildt 1153 AD.
My family has lived here, at the same location since 1648 ( confirmed year, but maybe longer).

Now tell me, where does your history begin? From where do you come? Africa, Asia, Europe or are you a Native? Maybe you come from a French, Spanish, English, Italian, Turkish or German colony? I know I am not.

New York, Smells a little Swedish as well.

But its not a matter of what has been, it is a matter of what is coming and what is coming down.

Kieran · « **Reply #8 on:** October 10, 2003, 11:05:50 AM »

British didn't buy it. They landed on the shore to take it, but the New Amsterdam inhabitants hated Peter Stuyvasent (their leader) so much they preferred surrender to continuing to live under his rule.

Kieran · « **Reply #9 on:** October 10, 2003, 11:06:50 AM »

Honestly Crab, don't you think that avatar speaks about your tone as much as anything you say?

crabofix · « **Reply #10 on:** October 10, 2003, 11:08:53 AM »

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Originally posted by Kieran
Honestly Crab, don't you think that avatar speaks about your tone as much as anything you say?

Atleast I have one.

miko2d · « **Reply #11 on:** October 10, 2003, 11:09:40 AM »

Krusher: with a very large percent of the worlds GDP tied directly to US markets we will see how well this goes over in the long run. I am betting its a large bluff that will back fire in the long run.

They send us real goods in exchange of piles of paper that they store in vaults - and which keep value as long as they do not spend them. So in dollar terms their GDP looks good.

Kieran: In addition... this war in Iraq did not cause OPEC or Russia or anyone else to suddenly want to trade in Euros...

Did not cause them to do so the next day. Not even yet. It certainly stopped Iraq from trading in euros.
Iran is considering doing so but would not dear in fear of Iraq's fate.

Russia is another matter. They have loads of $$ in their currency reserve - dollars with value backed by nothing but their own willingness not to spend them, otherwise they will fall. Quite a catch-22. They trade with europeans and lose money on oil sales because of the dollar decline. They can afford to lose the value of the stored dollars now in order to prevent bigger loss in the future.
Most importantly, they cannot be bombed or invaded and do not like US throwing it's superpower status around. If they switch, otehr countries may follow or will cost us an arm and a leg to bribe them not to.
Iran may get brave enough to switch. If Saudis switch, the dollar will be dome as the world reserve currency and the quarter of US consumption will be gone - as well as many resources needed to operate internal production.

It is a multi-step process that may or may not happen - that's why I did not post about it untill rumours become reality. I certainly watched it.

One country that could bring dollar down overnight by itself is China. They should only unpeg yuan from dollar start selling their accululated reserve dollars (for gold) and dollar would be dome as a world reserve.
They ship us $10 billion worth real goods every month and just accumulate those dollars in their vaults.

They certainly cannot be invaded or bombed.

I doubt they will act decisively though - they are far too patient. They throw us bones off their table ($10 bil a month) to keep us content and grow less sufficient. They grow fast even despite the slowdown caused by waste of resources sold for dollars taken from circulation.

Then they may ask US to stop supporting Taiwan. Or do anything else they want.

They will probably unpeg their currency from the dollar and raise it above 8.28. The inflation that we export to them already causes a strain on their economy, as they have to print 82.8 billion yan every month to buy out the dollars they store.

miko

AKIron · « **Reply #12 on:** October 10, 2003, 11:13:03 AM »

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Originally posted by crabofix
Its not about the fall of US, its like a poker game, you guys been anting up like having a full house and finely the world wants to see your cards, and you show a pair of 2´s.

A pair of deuces? Game ain't over yet.

Eagler · « **Reply #13 on:** October 10, 2003, 11:15:27 AM »

another reason to drill for more of our own

muckmaw · « **Reply #14 on:** October 10, 2003, 11:30:36 AM »

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Originally posted by crabofix
Now tell me, where does your history begin?

Brooklyn.