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by jin jang on January 25th, 2007

jin jang

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How soon will it take before the Eurodollar will become dominate as an oil currancy replacing the US dollar?

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  • by blessings on January 26th, 2007

    blessings

    Not long.

    The U.S. dollar is artificially propped up by the practices of the Federal Reserve (which is a private corporation run by the richest banking families on the planet). The "Fed" is no more a part of the government of the U.S.A. than is Federal Express. Many "in the know" recognized this in the last quarter of 2006, which saw the largest dump of dollar backed investments by the super connected in favor of the Euro in history. (Perhaps this was the lead in to your question?)

    Moreover, The Chinese have just this past year learned how to manupilate the market as the U.S.A. has done for decades. They now are capable and willing to monetize their currency and paper debt, and this does not bode well for the U.S. dollar.

    The recent hedgemony of the current administration in Washington has not garnered international confidence in banking circles, and large investors have been quietly shifting their assets to Euro-based investments.

    Individually these would be nuisance; collectively they portend trouble. What is the average American to do?

    Convert all savings and retirement accounts to gold as soon as possible. Not gold certificates, which will be worthless. Buy numismatic gold. Swiss 20 franc coins are still 'exempt' from confiscation due to the coin collectors, and as such, they likely will not suffer the scrutinity of those who buy, say, Krugerrands.

    Gold has held it's own for centuries. As proof, two thousand years ago an ounce of gold would buy a good toga, leather sandals, and quality leather belt, and today anywhere in the world it will do the same; purchase a suit, a pair of shoes, and a good belt.

    These are facts, not scare stories or rumor. And the rich know it.

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  • by Spunts.answered 67 questions in 1 hour. on January 25th, 2007

    Spunts.answered 67 questions in 1 hour.

    MrLogic as a level 8 contributor,you ask a very confusing question.confusing as it is ,i will attempt to answer it.
    (1)the euro will never be able to dominate the u.s.dollar.
    (2)america doesn't need foreign oil.the reserve in america will last 20 years.alaska has so much oil that hasn't been tapped yet,it is mindboggling.i am repeating myself here,today's technology is so advance that in the very near future,oil would not be required to fuel vehicles.if anything,it may even become illegal to use oil to power vehicles.(remember you read it here first)all those countries that are threatening to stop supplying the u.s.oil,can go ahead and keep their oil.we don't need it.see what happens to them after america stop buying their oil for three months.you know if america, does in fact,stop buying their oil,the result would be devastating and america has nothing to loose.
    (3)the euro will be the first currency to tumble because the war will be right in their backyards.most of those oil producing countries depend solely on oil to survive.i don't know of any country willing to buy their sand instead.

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