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To: Stavka2
Along those lines, I read on another site one possible motivation for this current war. The protestors have it worng. It isn't about oil, but how it is priced. The general agreement now is that oil is paid for and priced in US dollars. This gives the US an enormous advantage. The huge world wide consumption of oil by necessity creates a huge demand for US dollars to pay for it. This helps to prop up the demand for the currency, and gives a boost to the American economy, which relies heavily on foreign investors to pump money into the American economy to make up for shortfalls in domestic savings. Iraq had started to accept Euros for payment, and other oil producers were considering doing the same. Sin ce the US can't print Euros to pay for oil, if the region went Euro exclusive, it would doom the US dollar. It is an interesting theory.
119 posted on 04/03/2003 12:38:00 PM PST by plusone
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To: plusone
Interesting...and with the Euro carrying more weight then the dollar...interesting.
121 posted on 04/03/2003 12:56:48 PM PST by Stavka2 (Neocons, an oxymoron wrapped in a hypocracy.)
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