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Daniel Carrera wrote: | Hi all, | | Is there someone here who knows about economics and can explain something to me? | I'm reading this article on Wikipedia, about the Euro: | | http://en.wikipedia.org/wiki/Euro | <snip/> | | Any guidance would be most appreciated. Thanks! | | Cheers, I can't remember the intricacies of it all, but one of the other factors in the global demand for US$ is that virtually ALL oil is purchased with them, so every country which purchases oil (from pretty much any other country) has to have a reserve of US$. Conspiracy theorists (or realists?) link the Iraqui plans to sell oil in Euros to the US invasion - - I'm not sure that's true, but certainly if the euro became an oil currency, it would considerably weaken the US$ in its position as a global reserve currency.
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