Posted by akhilesh [ 129.244.120.200 ] on November 15, 2005 at 15:25:16:
In Reply to: Re: Arnold posted by manualblock on November 15, 2005 at 12:50:01:
"As for oil; which currency will the oil markett be tied to in the future? Dollars/Euros/Yen; thats pretty important stuff regarding our financial interests."
I don;t think it matters what it;s tied to, as long as all of them float. In other words, you can convert costlessly (ignoring tiny broke costs) between EUros & dollars and yen, so it hardly matters whether I quote you the price of oil in dollars in Euros.
Any economists amongst us care to discuss this?
-akhilesh
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