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ITS ALL OVER THE WEB MAN.


Go google: Iraq oil euros 2000.


Go google: Iraq oil dollars 2003.


ITS NOT F**KING COMPLICATED.

There was never a budget surplus under Clinton; there was not one single year in all that time when the US national debt did not increase. In fact I think the last time the US national debt declined was one year in the 60s.

And, as has been pointed out, the President does not set the budget, Congress does. Which was, oddly, Republican at the time the budget was supposedly balanced; which is the reason why the Republicans weren't pointing out what nonsense Clinton's 'budget surplus' was... they wanted to take the credit for it.

Now, you can certainly argue that Bush-era borrow-and-spend makes the Clinton-era look good, and I'd agree. But 'balancing the budget' was just propaganda on both sides.

The two statements are true and I haven't disputed them. In fact oil is traded in several currencies and has been for years, prior even to the existence of the Euro. For example, Canada routinely sells oil to Japan quoted in Canadian dollars. Russia routinely sells oil in Rubles, etc., etc.

What I AM disputing is your claim that OPEC switching from quoting in dollars to quoting in Euros would destroy the US economy. Now let me quote the very same Business Week article you just provided to prove my point.

As I stated before, the only people who actually believe that switching the OPEC benchmark for oil pricing from the dollar to the Euro would destroy the US economy are the conspiracy theorists and the crackpots.

Amiga,

You could have an interesting conversation if you learned to be an adult about it. You lose all credibility when you talk like you did in that last sentence.

Give respect, you will be respected. Obviously you dont care about that...

http://www.cbsnews.com/stories/200 [...] 5875.shtml

http://www.iht.com/articles/2005/0 [...] xpesek.php

http://usinfo.state.gov/eap/Archiv [...] 45620.html

http://www.heritage.org/Research/A [...] wm1046.cfm

http://www.treas.gov/press/releases/reports/2003.pdf

http://www.washingtontimes.com/art [...] 82695/1013

http://www.christusrex.org/www2/china/theft/pg1.html

http://www.washingtonpost.com/wp-d [...] 03372.html

http://www.pownetwork.org/bios/china.htm

http://news.bbc.co.uk/1/hi/world/a [...] 276519.stm

to name a few

Don't ever underestimate the Russians. They had literally nothing after Germany switched sides on them and they fought back and won. They are very very patriotic people, I know since my fiance is Russian. They will not just give up and roll over. They do also have some very good military technology especially in the form of jets.

1. Europe is not a nation its a collective group of nations. I for one am just gald Britan had the balls to say no. Thats a nation who understands how important it is to keep your individuality.

As for insulting immigrants, considering the fact that we are just trying to keep the country from being over populated and no jobs I don't see how we insult them. Either way, its great that we have a large tolerance towards religion and beliefes but that in no way means we should ever forget who we are. Its like the flag. I have read of places not wanting to put it up, government places such as librarys, cuz they don't want to offend other cultures. Well go to their country and you will see their flag all over the place.

Meh I almost wanna give up.

And thats Turpit for ya. Nice to see ya and as always coming with a load of links to prove a point.

Please read this:

http://www.iht.com/articles/2008/0 [...] /place.php

Only now are the Russians debating selling in Rubles. The article also briefly mentions the petrodollar & US economy.

All of the current oil bourses (with exception of new iranian one - new as of 2 months ago) are priced in dollars. US dollars are the strongest holding a reserve can have as it can buy oil straight with dollars, no need to worry about exchange rates.


Your simply sticking your head in the sand if you think having virtually all oil in the world sold in US dollars has not got a positive effect on the demand for US dollars in reserve holdings worldwide.

You ask for links when 5 seconds on google will give you the result you desire and that is the response you will get.


The keywords are not complex.

Let me rephrase that statement, Europe being a mature group of nations. That wasnt worded right, you had me worked up.

From what I am hearing, Brittain is being over ran with muslims and the natives are moving out because of it. I am hearing this from customers that I deal with in my store that are moving here from Brittain.

The post quoted below is not about being complex, its about being intelligent and using unnecessary words that show you are out of control and are losing your grip to communicate at a level that isnt provoking to argue. There is a difference in debating respectably and arguing out of control.

You lost my respect at that point.

Again, the point I'm making is that a switch from the pricing of oil in the dollar to pricing in a different currency won't have a major effect on exchange rates. I'm not talking about foreign reserve holdings. Perhaps you are subscribing to the theory that it's easier to win an argument if you keep changing the topic?

The most important factor in the calculation of exchange rates has always been and will continue to be the comparative pricing of commodities. As has already been stated and even quoted from an article you posted yourself, commodities are already priced at fair market values so a switch to a different currency will not yield a change in real prices.

If you are going to try to argue that a reduce in foreign reserves in US dollar would cause a severe drop in exchange rates, then you should also keep in mind that the US is the third largest producer of oil in the world (http://www.opec.org/library/FAQs/PetrolIndustry/q4.htm) so even after a switch to oil pricing in a different currency the exchange rate for the dollar would still largely be based on the market price for oil.