Members Taustin Powers Posted February 5, 2008 Members Share Posted February 5, 2008 The dollar's value has been declining steadily for awhile...some countries have already expressed their desire to trade oil in Euros instead. Do you think it will happen? Link to comment Share on other sites More sharing options...
Members RSBro Posted February 5, 2008 Members Share Posted February 5, 2008 It could. When you do any kind of research on "tax theory", you get stuff from every nutjob alive as so many just throw the "protester" stuff in there for good measure when a lot don't have a clue, but all that being said I've been "hearing" for months that they're just gonna let the dollar die, and then create a new currency exchangable in Canada, US and Mexico. Now, I don't see that happening for a while, if ever as it's quite a stretch, but I def could see something as important as oil moving from the dollar to something else, if not even the Euro if it continues to decline in the coming years. But wait... we're gonna run out of oil in 5-10 years, so what does it matter?! Link to comment Share on other sites More sharing options...
Members fretless Posted February 5, 2008 Members Share Posted February 5, 2008 Didn't the U.S. build most of those oil facilities other than BP ? Link to comment Share on other sites More sharing options...
Members Goofball Jones Posted February 5, 2008 Members Share Posted February 5, 2008 Just make a new currency that's used everywhere in the world! Sheesh, do I have to think of everything? :mad: Link to comment Share on other sites More sharing options...
Members 2tall Posted February 5, 2008 Members Share Posted February 5, 2008 perhaps the new currency is already being planned. Link to comment Share on other sites More sharing options...
Members 2tall Posted February 5, 2008 Members Share Posted February 5, 2008 Just make a new currency that's used everywhere in the world! Sheesh, do I have to think of everything? :mad: Link to comment Share on other sites More sharing options...
Members RSBro Posted February 5, 2008 Members Share Posted February 5, 2008 perhaps the new currency is already being planned. Forgot the name of it, but yeah that's what I've heard being thrown around. Link to comment Share on other sites More sharing options...
Members 2tall Posted February 5, 2008 Members Share Posted February 5, 2008 Amero Google it. Link to comment Share on other sites More sharing options...
Members Emprov Posted February 5, 2008 Members Share Posted February 5, 2008 Actually the Euro is on a slight decline against the dollar, down to about $1.46 or so last I saw. If you take into account that the US is the world's largest economy, there really can't be a switch anyway for quite a while. Link to comment Share on other sites More sharing options...
Members Taustin Powers Posted February 5, 2008 Author Members Share Posted February 5, 2008 Actually the Euro is on a slight decline against the dollar, down to about $1.46 or so last I saw. If you take into account that the US is the world's largest economy, there really can't be a switch anyway for quite a while. That's only today, and it came down from 1.48. If you look at the big picture, it was around 1.20ish only two years ago, and pretty much has been going up steadily since then. Link to comment Share on other sites More sharing options...
Members Emprov Posted February 5, 2008 Members Share Posted February 5, 2008 That's only today, and it came down from 1.48. If you look at the big picture, it was around 1.20ish only two years ago, and pretty much has been going up steadily since then. It's been closer to $1.50 for a bit and I remember not too long ago when the dollar was stronger than the Euro. Both Europe and the US have had pretty bad Januaries but I wouldn't be a bit surprised to see the dollar continue to strengthen against the Euro. Link to comment Share on other sites More sharing options...
Members FreestyleIntruder Posted February 5, 2008 Members Share Posted February 5, 2008 If you take into account that the US is the world's largest economy, there really can't be a switch anyway for quite a while. ...although collectively the EU's is larger... Link to comment Share on other sites More sharing options...
Members Emprov Posted February 5, 2008 Members Share Posted February 5, 2008 ...although collectively the EU's is larger... Yep, and we still seem to be doing a pretty good job of taking their markets down. Link to comment Share on other sites More sharing options...
Members mmb Posted February 5, 2008 Members Share Posted February 5, 2008 When "they" finally decided that Europe is actually decoupled from the US economy, then trading for world goods *might* switch to the Euro. Big maybe there.... Link to comment Share on other sites More sharing options...
Members Super Bass Posted February 5, 2008 Members Share Posted February 5, 2008 Some American's that come over here think the Euro is actually called the Euro Dollar.... Link to comment Share on other sites More sharing options...
Members J. Posted February 5, 2008 Members Share Posted February 5, 2008 Some American's that come over here think the Euro is actually called the Euro Dollar.... Well, you can't blame them for that since most of us Americans have very little knowledge of other cultures/languages/customs. When I consider the people I interact with on a daily basis, none of these American tourist horror stories surprise me in the least. There's been a lot of talk about other currencies now that the dollar has been going down for awhile. I don't know enough about international economics to make any judgments, but I hear the talk and read it on the interwebs all the time. We're to blame for our weakening currency, especially since we're expanding the money supply and increasing credit in an effort to stave off the effects of the recently burst housing bubble. If we were smart, we would let the market correct itself. It would be tough for awhile, but it will be worse in the long run if we try to weasel out of it (like by having the taxpayer bail out those in foreclosure). Link to comment Share on other sites More sharing options...
Members NeonVomit Posted February 5, 2008 Members Share Posted February 5, 2008 Well, weak dollar means US goods are cheaper here But yeah I guess OPEC and the other the oil-producing countries probably are tired of the dollar constantly falling and them having to constantly 'raise' prices to actually be earning the same. What difference would oil being traded in euros make anyway? Link to comment Share on other sites More sharing options...
Members J. Posted February 5, 2008 Members Share Posted February 5, 2008 I bet King Kashue knows. Link to comment Share on other sites More sharing options...
Members mmb Posted February 5, 2008 Members Share Posted February 5, 2008 What difference would oil being traded in euros make anyway? It's just the way it's been for years. *shrug* Momentum more than anything prevents the switch. Link to comment Share on other sites More sharing options...
Members King Kashue Posted February 5, 2008 Members Share Posted February 5, 2008 It's been closer to $1.50 for a bit and I remember not too long ago when the dollar was stronger than the Euro.. "Not long ago" being 2002... The Euro has been worth less than the US dollar for only about 2.5 years total (all between 2000-2002) and has been worth more for 80+% of its nine year existence. Link to comment Share on other sites More sharing options...
Members King Kashue Posted February 5, 2008 Members Share Posted February 5, 2008 I bet King Kashue knows. Nope, don't know the future... Though knowing a decent amount about the past does make me better at guessing Link to comment Share on other sites More sharing options...
Members bholder Posted February 6, 2008 Members Share Posted February 6, 2008 Nope, don't know the future... Though knowing a decent amount about the past does make me better at guessing "Those who don't repeat the past are doomed to understand it." Link to comment Share on other sites More sharing options...
Members King Kashue Posted February 6, 2008 Members Share Posted February 6, 2008 "Those who don't repeat the past are doomed to understand it." My head hurts now... Link to comment Share on other sites More sharing options...
Members Emprov Posted February 6, 2008 Members Share Posted February 6, 2008 Well, weak dollar means US goods are cheaper here But yeah I guess OPEC and the other the oil-producing countries probably are tired of the dollar constantly falling and them having to constantly 'raise' prices to actually be earning the same. Oil's down below $90. What difference would oil being traded in euros make anyway? Imagine that you were a salesguy who was pushing the most popular product around. Now, imagine that a huge client just dropped your product in favor of another. What would that do to your company? Far from a perfect analogy but you get the idea. Link to comment Share on other sites More sharing options...
Members J. Posted February 6, 2008 Members Share Posted February 6, 2008 Nope, don't know the future... BS. You totally do. Link to comment Share on other sites More sharing options...
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