Thread: Каддафи хотел заменить доллар золотом

Originally Posted by Ramil

Besides, there are suprisingly few people working for oil and gas industry in Russia and I don't think the slowdown of the US's economy would seriously impact their well-being.

Have you had a chance to notice the other consequence of the less oil export - less taxes to the Russian Government?

Originally Posted by Ramil

It's not much of a choice. I can't save in gold or anything else, because if I want to buy something from abroad I must buy dollars first.

You're saying you won't be able to close balances with other freely converted currency or the currency of the importer country exchanged as per the current market price?

Originally Posted by Crocodile

Have you had a chance to notice the other consequence of the less oil export - less taxes to the Russian Government?

How much of that really works for the people? Russian people will live badly, but not for long, remember?

Originally Posted by Crocodile

You're saying you won't be able to close balances with other freely converted currency or the currency of the importer country exchanged as per the current market price?

I would, but the current realities are - there is no alternative reserve currency.

Originally Posted by Ramil

I would, but the current realities are - there is no alternative reserve currency.

Ok, so let's look at a good example. Say, you come to the kiosk to grab a box of the bottled beer and you see the price in the y.e. That is done to protect the sellers from the money market fluctuations. However, the seller would also accept rubles or barter (say, X bottles of vodka). Does it mean, there's no alternative reserve currency for you other than the USDs? It might be beneficiary for you to also keep a portion of your reserve currency in the USDs to also save you from the money market fluctuation, but that does not mean you are forced into the usage of the USD as you said. The same situation with oil being priced in the USDs (=y.e.) If you import anything, you don't really have to exchange rubles for the physical USDs in contrary to what you said earlier, but the other party might want to accept to the USDs as well as their local legal tender as mutually agreed between you and him in this deal. That is all to it. It's absolutely not like I've seen being mentioned earlier that the US would allegedly start military campaign agaist any country who would decide not to use the USDs for the foreign exchange or anything like that.

Having said that, that convenience that the buyers would get by purchasing the physical USDs prior to making the deal which would effectively save them from the money market fluctuations creates the added value to the USDs. That's true. It's also true that it's purely speculative value - it only buys the convenience, but not the real goods. That would mean, that as soon as many countries would decide to make the price in Euros and would massively sell their USDs for Euros, the market price of the USD would fall and the price of the Euro would rise. The fact that the USDs are priced higher for the convenience allows the US to carry over the huge deficit year after year without worrying too much. But, that does not mean the evil financial clans who control the FRS are controlling the entire world or anything like that. It only means what it means. Every convenience has a cap on a price and every financial bubble would eventually burst out creating a more healthy situation on the market. The USD is not an exception to that rule. However, I'm against any hysteria about the FRS allegedly controlling the whole world with their evil green paper and looking day and night whoever they could impoverish they haven't yet.