Saddam is captured. so what? Nothing has changed regarding the fundamental outlook for the dollar. Isn't this the golden opportunity?
If we see oil prices decline as a result, that certainly benefits the dollar. I am looking for Bush and Company to engineer oil down into the low 20's next year. Bush and Company began buying oil at the beginning of their administration to fill up strategic reserves. They could dump that oil onto the market to help lower oil prices with little problem. One of the reason oil is not flowing more eaily out of Iraq is the terrorist attacks on the oil pipelines. We shall see if those attacks diminish, and more Iraqi oil makes it to market.