kawi kid Posted October 6, 2009 Report Share Posted October 6, 2009 why arent we hearing about this? and why does this not bother anyone? this is not gonna end well for the U.S. at all......http://priceofoil.org/2009/10/06/oil-traders-to-ditch-the-dollar/ Quote Link to comment Share on other sites More sharing options...
kawi kid Posted October 6, 2009 Author Report Share Posted October 6, 2009 http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html Quote Link to comment Share on other sites More sharing options...
Big Chief201 Posted October 6, 2009 Report Share Posted October 6, 2009 this has been rumored for awhile now. You can thank Ben Bernanke and the gov. for causing the dollar to be devalued so much that it caused extreme volatility in the market. Quote Link to comment Share on other sites More sharing options...
Disclaimer Posted October 6, 2009 Report Share Posted October 6, 2009 I'll believe it when I see it.Fear mongering. Quote Link to comment Share on other sites More sharing options...
jporter12 Posted October 6, 2009 Report Share Posted October 6, 2009 It NEVER should have been based on the dollar to begin with! Quote Link to comment Share on other sites More sharing options...
Disclaimer Posted October 7, 2009 Report Share Posted October 7, 2009 ^------ +1 Quote Link to comment Share on other sites More sharing options...
dmagicglock Posted October 7, 2009 Report Share Posted October 7, 2009 as long as we get free healthcare, who cares what happens to the dollar Quote Link to comment Share on other sites More sharing options...
Disclaimer Posted October 7, 2009 Report Share Posted October 7, 2009 Pay me in stitches.Bitches. Quote Link to comment Share on other sites More sharing options...
Todd#43 Posted October 7, 2009 Report Share Posted October 7, 2009 It NEVER should have been based on the dollar to begin with!^------ +1Any further explanation of your opinions here, or are you both blowing hot air again?? Quote Link to comment Share on other sites More sharing options...
jporter12 Posted October 7, 2009 Report Share Posted October 7, 2009 Any further explanation of your opinions here, or are you both blowing hot air again??Nope, not hot air. I'll have to look up the details, but it's not a good thing that the dollar is involved in oil pricing, and we're now seeing why.The price of oil was based on the GOLD standard before. Quote Link to comment Share on other sites More sharing options...
dmagicglock Posted October 7, 2009 Report Share Posted October 7, 2009 I heard china is buying up all that Gold now too... I say F the UAE and lets switch over completely to ethanol like brazil Quote Link to comment Share on other sites More sharing options...
Disclaimer Posted October 7, 2009 Report Share Posted October 7, 2009 We can't sustain ourselves on ethanol.Lower energy content than oil. Quote Link to comment Share on other sites More sharing options...
Big Chief201 Posted October 7, 2009 Report Share Posted October 7, 2009 we went away from the gold standard a long time ago and went to the dirty float it worked fairly well until monetary and contractionary policy roared its evil head. Just look at what Paul Volcker did in the 80's Quote Link to comment Share on other sites More sharing options...
dmagicglock Posted October 7, 2009 Report Share Posted October 7, 2009 We can't sustain ourselves on ethanol.Lower energy content than oil.just auto, not everything... there's not THAT big of a difference in MPG from ethanol to gas... I wouldn't mind getting 2-3 mpg less to the gallon, just to say F you to OPEC Quote Link to comment Share on other sites More sharing options...
Rod38um Posted October 7, 2009 Report Share Posted October 7, 2009 I dont blame them! Its just good business. They see our unrestrained spending on borrowed money, they see nothing being done to decrease our trade deficit (the only way to turn our country around) and the dollar gets worth less everyday because of it. If we dont reduce the size of government, cut spending to about 1/8 of the current level and use tax incentives to decrease the trade deficit and spur manufacturing, eventually it will take a half dozen dollars to by one euro............. the day is coming........ dreadfully.... but its coming. Quote Link to comment Share on other sites More sharing options...
dmagicglock Posted October 7, 2009 Report Share Posted October 7, 2009 I dont blame them! Its just good business. They see our unrestrained spending on borrowed money, they see nothing being done to decrease our trade deficit (the only way to turn our country around) and the dollar gets worth less everyday because of it. If we dont reduce the size of government, cut spending to about 1/8 of the current level and use tax incentives to decrease the trade deficit and spur manufacturing, eventually it will take a half dozen dollars to by one euro............. the day is coming........ dreadfully.... but its coming.I heard the IMF is going to push the Euro on Britian and get rid of the Pound. If thats the case, I think you'll see the dollar crash for sure. Quote Link to comment Share on other sites More sharing options...
Todd#43 Posted October 7, 2009 Report Share Posted October 7, 2009 Nope, not hot air. I'll have to look up the details, but it's not a good thing that the dollar is involved in oil pricing, and we're now seeing why.The price of oil was based on the GOLD standard before.As was already said, the gold standard has been long gone.If you're relating the price of a gallon of gasoline to the "high" cost of oil, you probably need to re-evaluate your position. There's almost as much in tax on a gallon of gas as there is in gas itself (well, not quite, but you get the idea)If you're relating the speculative market causing the increase in price I can assure you that the price will fluctuate regardless of what currency oil is traded in. To add insult to injury the way the dollar has been performing against other currencies the change will only cause our prices to go even higher because of our reduced buying power.I heard china is buying up all that Gold now too... I say F the UAE and lets switch over completely to ethanol like brazilBefore you fuck the UAE, take a look at where the vast majority of the crude we use comes from - it might surprise you. When you've found that information, please tell me how many arab countries are in the top 10.We can't sustain ourselves on ethanol.Lower energy content than oil.There are a lot of other reasons besides efficiency that we couldn't go all ethanol. Corn prices would surge, causing increases at the grocery store. I remember something about condensation issues and other problems in northern climates. I dont remember the details, but that was one of the reasons they tried the ethanol blends way back when most of you folks were still shitting your britches. Quote Link to comment Share on other sites More sharing options...
jporter12 Posted October 7, 2009 Report Share Posted October 7, 2009 I'm not sure about this guys credibility, but what he says make sense:http://www.youtube.com/watch?v=DtiP5TW9YVI Quote Link to comment Share on other sites More sharing options...
dmagicglock Posted October 7, 2009 Report Share Posted October 7, 2009 well I know we get most from canada, but we still get a decent amount from the Saudis and Venezuela (which I find funny considering our relation with Hugo Chavez) we also get it from angola, Iraq and nigeria. Aside from canada, these are all members of OPEC. I said UAE in my first post, but I meant OPEC because they typically try to control market price of oil. I also find it funny we sell a lot of our oil instead of using it ourselves. I guess we can sell it for more than what we buy it from someone else for? Quote Link to comment Share on other sites More sharing options...
jporter12 Posted October 7, 2009 Report Share Posted October 7, 2009 As was already said, the gold standard has been long gone.If you're relating the price of a gallon of gasoline to the "high" cost of oil, you probably need to re-evaluate your position. There's almost as much in tax on a gallon of gas as there is in gas itself (well, not quite, but you get the idea)Taxes suck.If you're relating the speculative market causing the increase in price I can assure you that the price will fluctuate regardless of what currency oil is traded in. To add insult to injury the way the dollar has been performing against other currencies the change will only cause our prices to go even higher because of our reduced buying power. Yet they keep printing more dollars, to "buy back" our debt. A whole other topic.Before you fuck the UAE, take a look at where the vast majority of the crude we use comes from - it might surprise you. When you've found that information, please tell me how many arab countries are in the top 10. Information available on the DOE website.There are a lot of other reasons besides efficiency that we couldn't go all ethanol. Corn prices would surge, causing increases at the grocery store. I remember something about condensation issues and other problems in northern climates. I dont remember the details, but that was one of the reasons they tried the ethanol blends way back when most of you folks were still shitting your britches.A couple MPG isn't the issue. It's more than a couple MPG anyway. Ethanol is only 80% as efficient as gasoline. Ethanol would be bad for many of the older vehicles on the road, and by older, I mean older than about 2002-2004 era. There are a lot of cars out there that would not run well on ethanol, and ethanol would probably cause damage to. Not to mention that it takes more energy to produce ethanol than you can get out of it. Then the already mentioned food prices, etc..... Quote Link to comment Share on other sites More sharing options...
jporter12 Posted October 7, 2009 Report Share Posted October 7, 2009 Before you fuck the UAE, take a look at where the vast majority of the crude we use comes from - it might surprise you. When you've found that information, please tell me how many arab countries are in the top 10.Here's a link for ya:http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html Quote Link to comment Share on other sites More sharing options...
Todd#43 Posted October 7, 2009 Report Share Posted October 7, 2009 I'm not sure about this guys credibility, but what he says make sense: "Out There TV" - looked like a low-budget infomercial to me. I've seen higher quality home videos for christ's sake.Are you fucking kidding me? You bring Lindsay Williams, a baptist preacher, who was a "volunteer missionary" in Alaska in 1971 as an authority?Where do you get the rest of your information? The Daily Show? Quote Link to comment Share on other sites More sharing options...
Todd#43 Posted October 7, 2009 Report Share Posted October 7, 2009 Here's a link for ya:http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.htmlInteresting. We get more oil from Canada than we do from the Middle East Countries COMBINED (Saudi Arabia, Iraq, Iran, Kuwait, and the UAE).When was the last time we invaded Canada for the fucking oil?????? Quote Link to comment Share on other sites More sharing options...
jporter12 Posted October 7, 2009 Report Share Posted October 7, 2009 "Out There TV" - looked like a low-budget infomercial to me. I've seen higher quality home videos for christ's sake.Are you fucking kidding me? You bring Lindsay Williams, a baptist preacher, who was a "volunteer missionary" in Alaska in 1971 as an authority?Where do you get the rest of your information? The Daily Show?What do you bring to the discussion? Quote Link to comment Share on other sites More sharing options...
jporter12 Posted October 7, 2009 Report Share Posted October 7, 2009 Interesting. We get more oil from Canada than we do from the Middle East Countries COMBINED (Saudi Arabia, Iraq, Iran, Kuwait, and the UAE).When was the last time we invaded Canada for the fucking oil??????So, is everyone still believing that Iraq is all about oil? Quote Link to comment Share on other sites More sharing options...
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