Quote:
Originally Posted by wheelsup  What are the ramifications of having the price of oil be in euros and not dollars? Aren't they pretty much all negative for us (Americans)? |
well lets be clear. i'm just a pilot who read too many issues of economist.
the idea goes that the price of oil should be based off many currencies together. so value of euro's, pounds, dollars, who knows, maybe a yen or two thrown in there.
also it depends on what you call negative. there are a lot of advantages to de-valuing the dollar for us, unfortunately its tough to convince people of that. i don't know why, china is amazingly successful because of their low currency value, and they are buying up pipelines and land in iran.
i found this, its not the best but it gives u an idea on good sides and bad sides of "weak currencies"
best of luck
http://stocks.about.com/od/advancedt...doll120604.htm