[A-List] Rep Ron Paul (R-TX) Speech: The End of Dollar Hegemony

Nestor Gorojovsky nestorgoro at fibertel.com.ar
Sun Feb 19 14:53:18 MST 2006


The question is "what is the material basis for those ratios"?

Ask your friend whether in the hypothetical case that all oil were 
suddenly traded in Yens, the rate of exchange between Yens and US or 
EU currencies would not change dramatically.

Respuesta a:"RE: [A-List] Rep Ron Paul (R-TX) Sp"
Enviado por:mdriscoll at earthlink.net
Con fecha:19 Feb 2006, a las 11:31

> 
> This is from a financial analyst friend in Florida to whom I sent the
> Paul Craig Roberts article a few days ago. His response seems simple
> enough, just reinforcing what Roberts had said, and relevant in
> response to what Ron Paul says here. Oil's price may be pegged to the
> dollar but that bears little or no relationship to what currency is
> used in trading it.Yes? Does creation of an Iranian bourse make any
> difference? What am I missing here?
> 
> "The article is more than correct. Contrary opinion suggests people
> don't have a remote understanding of international currency
> relationships.  The idea that oil or anything is relevant to a
> specific currency is absurd. Oil, gold or carrots are traded in value.
>  The dollar, pound, euro, swiss franc,etc. are interchangeable at a
> fixed world wide ratio.  The ignorance illustrated in assuming our
> Iran policy could be related to how their oil is currency denominated
> goes beyond my imagination.  Strike such ignorance from your mailing
> list.  ( I could go on for pages, but the obvious example...oil sold
> at $60. a barrel is the same as oil sold at 50 euros, 36 pounds, etc. 
> NO ONE cares a damn.  The money is fungible and in one second on the
> internet can be converted into any currency at known ratios.)" 
> 

Este correo lo ha enviado
Néstor Miguel Gorojovsky
nestorgoro at fibertel.com.ar
[No necesariamente es su autor]
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"La patria tiene que ser la dignidad arriba y el regocijo abajo".
Aparicio Saravia
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