OPEC NATIONS DISCUSS DROPPING THE DOLLAR IN PLACE OF THE EURO

5-1-2008 | rACEbANNON

[RaceBannon]

You can wear whatever you want on your head, I don’t care...

[Walmartian]

RELEASE THE CAPS LOCKS OF WAR!

[RightWhale]

It’s a good time to do this since the $US is on a rally.

[ikka]

They are threatening us so that we don’t blow Iran and Syria to pieces.

[Crim]

Better off using the space for ammo storage.

Shelf life on ammo is better anyways.

[RightWhale]

discussed for years

Already complete in Iran. Doesn't matter to the USA at all but maybe to Japan and China.

[Perdogg]

CRY HAVOC THEN LET LOOSE THE CAP LOCK!

[Lazamataz]

[NeoCaveman]

RELEASE THE CAPS LOCKS OF WAR!

CRIED THE FOUR HORESMEN OF THE CAP LOCK ALYPSE.

[Orange1998]

I agree. They can’t eat oil, now can they. Let them choke on it.

[Lazamataz]

[A. Morgan]

This is thanks to the demoRAT congress!

[Sgt_Schultze]

According to Lindsey Williams, the oil-to-dollar peg was the deal made that keeps us from recovering our own supplies. It's a bit tinfoilish but there is a speech available here where he discusses the available oil supply in Alaska.

[netmilsmom]

Laz, that picture creeps me out.

[shankbear]

They will institute a CAPS gain tax if you don’t stop it. STOP. STOP. STOP.

[paulcissa]

But...WE'RE ALL GONNA DIE!!!!!

[BufordP]

Ain't never gonna do it without the fez on. Oh no.

[FiddlePig]

NEVER ACT COOL AND COLLECTED, WHEN THE SITUATION CALLS FOR PANIC!!!!!

[JPJones]

This has been discussed for years.

The difference is: now there's a currency (euro) to replace the dollar.

Iraq tried, Iran has succeeded, Russia is next.

This just may be hugh.

[Natty Bumppo@frontier.net]

This must mean that it’s near time to start buying the dollar.

Absolutely. I just returned from a three-week business trip to Germany. The Euro has peaked against the dollar and started to slide. That was before the announcement that the U.S. economy grew by 0.6% last quarter.

Between the dims, the lamestream media, and the fact that companies realize that bad news delivered early in a lump beats dragging the negatives out over several quarters; weaknesses and risks in the U.S. economy were identified and priced in early (in some cases overpriced) compared to the Europeans.

The EU is sitting on a fair amount of economic baggage that is just now coming to light. Given the way the EU works, their is microeconomic incentive for individual nations to understate their issues and delay the bad news, even if it exacerbates the macroeconomic downsides for the EU as a whole.

The German economy is not as robust as they would have you believe and real unemployment is much higher than the official figures. Asian automakers are causing the same kind of headaches for German automakers as they are for Detroit. A whole lot of money has been spent on grossly unprofitable windmills to generate power.

Northern Italy is getting tired of carrying the non-productive south, and the full impact of the costs are only now being realized. The Spanish economy was a construction bubble that has imploded.

All across Europe, major banks have yet to ruthlessly revaluate their non-performing loans the way U.S. banks have already done.

The real forecast for the EU for the remainder of 2008 and 2009 is between anemic and sickly.

Short the Euro and go long on the dollar.