Iran Stops Trading Oil in US Dollars

Yes I have. Already stated that the euro and pound are fiat garbage, just like our dollars. There is no other currency besides the Yuan that is moving towards any sort of backing by tangible assets, much less gold bullion. That is the reason plain and simple.

 

Yes, the Shamrock Commoner hath spoken!

 

Gold bullion? I don't see how you become a leader in the 21st century economy by utilizing 19th c. economics - especially for an export based economy. Pegging the yuan to ever-decreasing finite commodity = a nice recipe for deflation. That's a tough pill to swallow when your economy is almost entirely export based, and rather a recipe for disaster.

 

In the end ever-decreasing finite commodities will always beat paper with green ink- oil, gold

buying up gold or owning a producing oil field isn't as bad as you think when there is a flood of debt and paper.

 

Let's agree to re-visit this issue in five years, when I think things will appear more clear between both our stances.

On another note, just learned I gotta fly out soon and will probably not be able to watch or even follow tomorrow nite's game

I'm praying for a Game 7.......all of pippendagimp's best wishes and good energies are with the Rox and the board

 

The yuan is basically backed by China's holdings of US Treasuries...so paper backing paper backing paper backed by all the governments' ability to tax us.....

 

OK - five years from now, I will pay you 10,000 yuan. In return you pay me $2,500 US - deal?

 

currently the exchange rate is about 7-1 so you expect him to give you 4-1 in five years?

 

That's cause it's a friendly wager - if it were a hostile one it would be 2-1

 

You felt the need to call name even in a relatively non-confrontational discussion about the world economy. It's people like you who start the poo-flirting in the D&D time after time. You are low, really low.

 

lol...i know. bot-man is possibly one of the meanest and cruelest things anyone could ever say to anyone.

 

Bot-boy would have been insulting.

 

Looks like Bot-man has found his Robot-in!

To the BOTMOBILE!

 

But how are they set on fries?

 

IT will be closer to 5-1

 

Wow that is cold.

In a tersely worded statemnet, OPEC responded that it was "good on fries".

 

If you have read the other threads like the Tibet ones, you would know what SamFisher is trying to do here. This 'bot-man' name calling is a carried over from the other threads. It's obvious that he can't let it go so he still used it to take a jab at the other poster even in this non-confrontational discussion about the world economy. What purpose would it serve other than setting off another poo flirting match anyway (which SamFisher might enjoy doing). Next thing you know he will bring out his Nazi gathering threads to link the other poster to Nazi Germany. Yes, he can get that low, believe me.

 

AlbertoVO5 is correct here ~ I won the limbo contest at the county fair several years running, along with the Honore de Balzac relay race.