Oh no, not that again. 🙁

Oil is not ‘sold in dollars’. It is priced in dollars, on the spot market. Individual oil contracts can be in any currency the buyer & seller like. China, for example, will probably always pay in dollars, because it has more dollars than it knows what to do with, but a Swiss buyer might pay in Swiss francs, a French buyer in euros, etc.

Saddam choosing to take euros instead of dollars for his oil wouldn’t make any real difference to the USA, & was not a motive for invading.

Gaddafi’s fantasies about gold-based currencies & selling his oil in Africa are even more irrelevant to anything. Firstly, whatever currency Libya has is unimportant. It has a small population & small economy. Secondly, wherever Libya sells oil, it still has to import. Selling oil to African buyers (who, BTW?) will merely displace oil they import from other sellers, & free that for purchase by Italy, France, & the other importers of Libyan oil. All Libya would do is increase its costs, which are very low indeed for sales to Mediterranean countries.

BTW, Gaddafi’s gold hoard, if accurately reported, is worth about $10 billion. The British government spends that much every three days or so. It’s not enough to worry about. It’s not enough to be disruptive.

Oil could be priced in objectif nuls’ brouzoufs, but if gaddafi wants gold dinars for it or if Saddam wants euros for it, there’s not much others could do about it except forking gold dinars or euros. Following a few many rounds of quantativizing thanks to mister bernanke, and if nobody need dollars for international trade then I don’t know why anyone would want to keep them, much less china. Ergo the dollar is toast.

Nic

Perhaps, or just the fact Gadafy was sitting on a huge oil reserve;)
What can i say, War is a messy.. especial a civil type war like this.

Or is it because Gaddafi wanted to create a gold-based currency in Africa and sell his oil in that currency?

http://rt.com/news/economy-oil-gold-libya/

Surprisingly similar to how Saddam Hussein wanted to switch to selling his oil in euros instead of in dollars just before the US decided they wanted to finally invade Iraq.

Nic

I guess they were allowed by the US to bombe the PKK to thank them for their future role in Syria affair 🙂

Nic

I have no idea how one could think of legalising heroin. While it is true that the US intervention led to a huge increase in heroin trafic, the US don’t care as most of it goes to Europe and not the USA. So might as well ally with the producers agains the taliban right?

This whole thing is a huge farce, and there’s nothing set up to make us believe that the political situation there will change anytime soon.

Nic

Invade Pakistan! You want Pakistan to do today what Taliban ‘might’ do tomorrow. Brilliant strategy.

I didn’t say that I wanted anyone to invade Pakistan, only that if the worry was about nukes, Afghanistan was the wrong place to look.

That is because a few countries are bearing the brunt, the operation should be internationalized, let the Russians, Indians, Chinese all do it like the Anti Piracy operation.

Security of the rest of the world is just as important as Afghan peoples freedom.

hahahaha yeah ask the russian to come help in Afghanistan :rolleyes:

Nic

This war will never be won. Karzai is a crook, and even organisations like the red cross finances the taliban if only by just paying a rent that is many times market price for all real estate, and who does the real estate belong to? The war lords.

Nic