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Ssushi
Joined: 18 Nov 2004
Posts: 6098
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| Posted: Tue Feb 14, 2006 5:53 am Post subject: Petro$, PetroEuro and the UK economy |
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Thought this post was one of the most interesting I've seen here in ages, it got me thinking; I wonder if the UK economy is so tied to the US$, that if the PetroEuro Oil trading systems takes off, that not only the US but UK economy will suffer...
http://www.politicalcrossfire.com/forum/viewtopic.php?t=49006 |
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maxtsu
Joined: 03 Mar 2004
Posts: 1848
Location: European Union
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| Posted: Tue Feb 14, 2006 7:16 am Post subject: Re: Petro$, PetroEuro and the UK economy |
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Ssushi wrote: Thought this post was one of the most interesting I've seen here in ages, it got me thinking; I wonder if the UK economy is so tied to the US$, that if the PetroEuro Oil trading systems takes off, that not only the US but UK economy will suffer...
http://www.politicalcrossfire.com/forum/viewtopic.php?t=49006
The UK£ is more tied into the Euro then the dollar.
i.e. changes on the euro have more effect on the UK£ then changes on the dollar. |
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Ssushi
Joined: 18 Nov 2004
Posts: 6098
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| Posted: Tue Feb 14, 2006 7:44 am Post subject: Re: Petro$, PetroEuro and the UK economy |
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maxtsu wrote: Ssushi wrote: Thought this post was one of the most interesting I've seen here in ages, it got me thinking; I wonder if the UK economy is so tied to the US$, that if the PetroEuro Oil trading systems takes off, that not only the US but UK economy will suffer...
http://www.politicalcrossfire.com/forum/viewtopic.php?t=49006
The UK£ is more tied into the Euro then the dollar.
i.e. changes on the euro have more effect on the UK£ then changes on the dollar.
I was thinking more of who invests within the UK, I presume the Americans more than Europe. |
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johnz
Joined: 11 Sep 2005
Posts: 381
Location: Costa Del Leeds
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| Posted: Thu Feb 16, 2006 4:12 pm Post subject: |
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| Maybe if the Euro does become the dominant oil currency it will stop labour flirting with the idea of scrapping the pound as then the time would be right. |
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Ssushi
Joined: 18 Nov 2004
Posts: 6098
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| Posted: Fri Feb 17, 2006 6:50 am Post subject: |
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johnz wrote: Maybe if the Euro does become the dominant oil currency it will stop labour flirting with the idea of scrapping the pound as then the time would be right.
Unfortunately IF the EURO becomes the global oil currency, we're probably all in big trouble (at least in the short term) - the USD will crash along with the US economy, leaving the EU in trouble... |
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JDnCoke
Joined: 07 Mar 2005
Posts: 1153
Location: Oxford, Queen's
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| Posted: Thu Mar 23, 2006 9:10 pm Post subject: |
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Ssushi wrote: johnz wrote: Maybe if the Euro does become the dominant oil currency it will stop labour flirting with the idea of scrapping the pound as then the time would be right.
Unfortunately IF the EURO becomes the global oil currency, we're probably all in big trouble (at least in the short term) - the USD will crash along with the US economy, leaving the EU in trouble...
How exactly did you work that out? A collapse in currency could be good for the USD, it would be devalued making its good more competative on the world market...
Although I haven't read much about this - got any links? |
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