Hi guys, Thanks to all who responded. I think I understand things better now.
Now, this bit is interesting: Ric Hayman wrote: > 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$... but certainly if the euro > became an oil currency, it would considerably weaken the US$ in its > position as a global reserve currency. The article says that there is talk in OPEC about switching to Euros. Venezuela's president, Hugo Chavez, is certainly very keen on that. He's rather anti-American. This is significant because Venezuela has traditionally been the OPEC country that sells most to the US. Since it's the only major member that is not in the Middle East. This would be interesting indeed. I'm still thinking about what you guys wrote. Trying to get my head around it all. I guess my problem is that I'm trying to apply rigurous rules to concepts that are not rigurous (e.g. "confidence"). Cheers, -- Daniel Carrera | I don't want it perfect, Join OOoAuthors today! | I want it Tuesday. http://oooauthors.org |
