What do you guys make of this bit of news?
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
http://www.guardian.co.uk/business/2009/oct/06/oil-us-dollar-threat-to-america
Is this good news or bad news? Is this scary stuff?
Does it mean war? If so, which countries will be involved? If more than 2 countries, which side will the rest be on?
Or will there be a peaceful transition? Will the U.S. just fade into the sunset or will it still play a dominant role?
Will inflation sky rocket? Will there be a world depression?
How long do we have left; 2012, 2018?
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I don't buy it. I mean, it would be foolish to think oil will be traded in dollars forever, but I don't think there will be a transition any time soon... ten years from now maybe, but not today. When it does happen, it won't mean war. It won't even be that big of a deal. Think of all the countries who's currency isn't being used for trading oil -- they're not going through cataclysmic despair, are they? Side: no big deal
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