Reply #11: This is NOT good. [View All]

[trof]

Some oil producing countries have threatened this for a while.
Pre-invasion Iraq, for one.
Gee, maybe THAT'S the reason we...?

If the world oil producers convert to euros, that means the U.S. oil companies will have to buy euros in order to buy oil. That'll mean big increases at the pump in terms of dollars.

Speaking of euros, what backs their value?
The 'full faith and credit' of something or other?
That's what 'backs' the dollar.
"The full faith and credit of the United States government."
What, exactly is THAT worth in today's market?
My guess would be not nearly as much as it might have been worth oh...say...6 years ago?
:-(