Plans to base the dollar on oil prices

Discussion in 'Economics' started by noob_trad3r, Jun 25, 2010.

  1. This is interesting.
     
  2. part2
     
  3. bone

    bone ET Sponsor

    Kinda already there - the Arabs have always insisted on getting paid for oil in U.S. dollars, despite the failed attempts by Iran and Russia to change that exchange convention. Yep, Europeans have to exchange euros to dollars and the Japanese yen to dollars beforehand in order to buy Arabian Sour.