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Joe_Cavalry All Day Every Day


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Debate Score:5
Arguments:5
Total Votes:5
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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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FOX News says that the parties involved deny the reports. But then again, I would too if I were them ;)

1 point

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
1 point

2012 .................................................................................................................................................................................................................................................

Side: Thought Process
1 point

Makes sense. The dollar keeps getting less and less valuable as the government debt racks up. You can't blame them for wanting to switch away.

Side: no big deal

Well..., yeah, it might make sense but what about the consequences?

Side: no big deal