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1011011

Registered: Jul 2010
Posts: 49

06-13-12 04:52 AM

so the world crashes if oil goes above $120? the economy may slow but pessimists people like to predict the end of the world if certain scenarios fall in place

i think the real issue is for the US to develop technologies to be independent of the Middle East oil

Quote from callmeput:

Continued growth is not an option as long as oil price follows.

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4thaugust1932

Registered: Feb 2012
Posts: 226

06-13-12 09:36 AM

Unlike Euro, Dollar is pegged to OPEC oil.
Hence it is irrational to compare both.

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Jai

Registered: Jun 2012
Posts: 41

06-16-12 08:25 AM

Europe to be no more Europe, if the shit occurs http://mises.org/daily/6067/Passing-the-Bailout-Buck

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4thaugust1932

Registered: Feb 2012
Posts: 226

06-19-12 06:06 PM

There is only about ~900 billion paper and coin dollars.
There is about ~14 trillion dollars worth of credit supplied by banks.
There is about ~55 trillion dollars in total debt, again, supplied by banks.
What backs the dollar is the faith that the 14 trillion dollars will some day pay the 55 trillion dollars off.
Looks like US is operating a Ponzi/Pyramid scam on global scale since Nixon Shock.

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