karmaguy

Toiling Over Bubble Troubles

Oil Now trades as a currency. It's become an alternative to dealing in U.S. Dollars. Oil has always Settled in U.S. Dollars, but now there's a popular alternative "What ever you're selling me or I'm buying from you I'll pay you in barrels of oil". Ofcourse, you don't physically have to deliver oil, only Certificates of Oil. Oil as a new currency has a larger capitalization then all the Euros or Yen ever issed, only the U.S. dollar is larger. But who wants to settle in U.S. Dollars when they're printing it like the Mexican Peso of the 1970's.!!?? If you were a country or large multi-national won't you rather hold your currency reserve in Certificates of Oil rather than U.S. Dollars?