What do you guys make of this bit of news?
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?
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