Wednesday, October 7, 2009

Dollars to donuts

There's a lot of buzz this week about the rumors that oil producing nations are going to stop pricing oil in US Dollars. The rumor is that the Gulf States are going to create some kind of "basket" or index of international currencies to try and make the price of oil more of a global concern. I won't pretend to understand all of the implications of this scenario but would it really be that bad for America? This article at least addresses some of the reasons why having the US Dollar as the defacto world currency has had both good and bad effects on US citizens.

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