80. "CHANGING TO THE EURO ISNT A BAD THING!!!!!!" In response to In response to 1
yall act like if the US loses the dollar-oil nexus the US is fuct. truth be told, having a strong competitor to value of a dollar is a good thing. if the euro does take over, that means more countries can afford to buy US goods. Right now the dollar is so much higher than the rest of the world, its difficult for the middle nations to buy US stuff. yes, the oil-dollar nexus puts oil on lock and makes it easy to control inflation and pay off debt, but losing it isnt the end of the world. The US could start exporting a lot more (since we import nearly everything) which would help stabilize the economy. and dont forget, we live in a global economy. the top 10 largest international banks have money all over the world. and the largest oil companies hold major stock in other large industries. i guess the question is, and economists stipulate on both sides, how big will the impact be? if the switch occurs, investors will worry and oil prices will increase, but once iraq is allowed to produce oil freely, the world will be flooded with cheap oil and then the US can concentrate on straightening out Venzuela.