bbloke
Registered
fryke said:Bollocks...
I take it you mean the "Euro," but no one is asking the US to switch currencies. Mind you, some other nations have been contemplating it, particularly with respect to dealing with oil (oh, and these countries tend to get invaded or threatened by the US).hawki18 said:what next you want the US to switch to the URO
http://en.wikipedia.org/wiki/Euro#The_euro_and_oil
http://www.themoscowtimes.com/stories/2003/10/10/001.htmlWikipedia said:The eurozone consumes more imported petroleum than the United States. This would mean that more euros than US dollars would flow into the OPEC nations, but oil is priced by those nations in US dollars only. There have been frequent discussions at OPEC about pricing oil in euros, which would have various effects, among them, requiring nations to hold stores of euros to buy oil, rather than the US dollars that they hold now. Venezuela under Hugo Chávez has been a vocal proponent of this scheme, despite selling most of its own oil to the United States. Another proponent was Saddam Hussein of Iraq, which holds the world's second largest oil reserves. Since 2000 Iraq had used the euro as oil export currency. In 2002, Iraq changed its US dollars into euro, a few months prior to the 2003 invasion of Iraq. If implemented by the OPEC, the changeover to the euro would be a transfer of a 'float' that presently subsidises the United States to subsidise the European Union instead. Another effect would be that the price of oil in the eurozone would more closely follow the world price. When oil prices skyrocketed to almost 50 USD/barrel in August 2004, the oil price in euros didn't change nearly as much because of the concurrent rise in the exchange rate of the euro to the US dollar (to an exchange rate of EUR 1.00 = USD 1.33 in December 2004). Similarly, should oil prices lower significantly, together with the USD/EUR exchange rate, the oil price in the eurozone would not fall as much. On the other hand, if the exchange rate and the oil price move in different directions, oil price changes are magnified. Pricing oil in euros would nullify this dependency of European oil prices on the USD/EUR exchange rate. On March 20, 2006, Iran is planning to open an International Oil Bourse (IOB, exchange) for the express purpose of trading oil priced in other currencies, including euros.
But, anyway, we digress!The Moscow Times said:President Vladimir Putin said Thursday Russia could switch its trade in oil from dollars to euros, a move that could have far-reaching repercussions for the global balance of power -- potentially hurting the U.S. dollar and economy and providing a massive boost to the euro zone.
I totally agree, we need to value diversity. More so than we do currently. I think people from all nations tend to put their own ways of doing things first, and tend to dislike "foreign"/alien ways of doing things. It's human nature, alas.Satcomer said:Our diversity is what makes us all special. I will never let the so called "world" (when will people learn the US or Western Europe is not the world) government ever rule over me. I don’t know how Europeans can stand the European Union. I believe those countries are giving up their true identity for some intangible economic benefit.
I really don't think the EU is an example of something that shouldn't be put up with, because I think Americans take it for granted all the time. For instance, a European could say "I don't know how you Californians can put up with a Federal government, your identity is completely different to that of a Texan." Well, it's true, but it's also about finding things we have in common and working for the common good, while trying to maintain and value diversity. Not always easy, sure, but not impossible. Believe me, if you go to France, it still feels like France, it's not part of a homogeneous "Eurozone" or something!