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Threatening Petroeuro?

Oliver said:
What are you talking about? And by the way: You showed that you don't know anything about the OP, thanks for providing this obvious fact.
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Is that what I did? Gee, thanks for explaining it to me.


Iraq was trading oil for euros already through the Oil for Scumbags Food program. There couldnt have been a "threat" to start trading on euros if it was already happening.
 
Oliver said:
I understand your point. What does this have to do with this thread? :confused:
And yes, I will be glad to answer your questions. Just ask me in a thread about this particular topic or start a new thread if this is conform to the board-rules.

You do understand that I'm willing to answer you, don't you? :confused:
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OK I will
 
Oliver said:
Wait a second and give me a break.

I know about the conflict and the "war of the tankers" - but with "recent History" I have no Idea what this has to do with the invasion of Iraq or the conflict with Iran.
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Because it is "recent history", and the same regime that ran Iran then still runs it now.

Darth, as far I understood him, says that both current conflicts are based on a theoretical threat that one of those countries may block the Oil-Flow??? :confused:
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Did I get this the right way?
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Probably not, since you don't seem to be able to get anything right.

Did Iran say they will block the Persian Gulf?
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Not yet, so far they're just saying they will destroy Israel. Curiously, you don't think that matters anyway, so why would it matter if they threatened to close the Gulf to shipping using your logic?

And aren't they free to say "We don't want to export to US&Friends anymore" anyway?
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They are free to sit on their own oil if they wish. They are not free to close the Gulf to tankers from Kuwait, Saudi Arabia, Iraq, etc etc.
 
Do you mean "thread", Matteo?

I'm thinking that you must because, if you really meant the whole forum, you'd find a LOT more than that. ;)
 
Oliver said:
Wait a second and give me a break.

I know about the conflict and the "war of the tankers" - but with "recent History" I have no Idea what this has to do with the invasion of Iraq or the conflict with Iran.
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Oil supply and security has been an imperative in US policy for decades, and for global trade as well. Major disruptions don't just hurt the US, they hurt a lot of industrialized nations, East and West. The OPEC oil embargo in 1973 over the Yom Kippur war highlighted the sensitivity the American, and global, economy had to reliable oil supply from the PG, and from OPEC nations in general. If you look at where PG oil goes, it is still a major part of the global trade and productivity equation, though other producers have a play as well.
Darth, as far I understood him, says that both current conflicts are based on a theoretical threat that one of those countries may block the Oil-Flow??? :confused:
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No, you did not get this right. Your attempt at spinning a summary of my observations is pathetic.
Did Iran say they will block the Persian Gulf?
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Recently? It doesn't much matter, just look at the map and the problems caused in the 80's by mines and the occasional attack on a tanker.
And aren't they free to say "We don't want to export to US&Friends anymore" anyway?
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Yes. Iran does not have the sized share of the oil market that would make such a decision significant, the way OPEC made a significant move in 1973. It also hurts, at least in the short term, income. If Iran refuses to sell to someone, the international market and spot price may or may not change, but someone who produces will. Making such a policy, or a decision, is thus a very serious decision in Teheran, and would need a significant motivation to undertake it. Being attacked might induce such a response, in simple exercise of what power, denial, Iran has when dealing with more powerful states.

DR
 
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Amazing ... I leave for two days and Oliver, while admitting and/or showing he doesn't know a thing about economy, banking, currency trading, and commodities supply and trading, and despite being given loads of explanations and answers, is still stuck trying to shoehorn his latest fantasies about the reasons for the US invasion of Iraq, and future invasion of Iran ...

It would be desperating if it wasn't somehow comical.
 
Can I ask a question? Sorry if someone has explained this already.

Even if every oil-producing country in the world started accepting Euros, Yen, or whatever as payment for oil tomorrow, would that have a really big impact on the dollar or just a small impact?

Also, if having a strong currency is good, why does it seem like so many countries (Notably Japan and China) actually try to keep their currency weak? There must also be good things about having a weak currency. So if the US dollar fell, there would be good aspects to that for the US economy, such as the trade deficiet would go down, presumably. For US workers, and US-based producers of goods it would seem to be a good thing. For consumers, less good, but maybe Americans could actually stand to (horrors) consume a little bit less?
 
Puppycow said:
Can I ask a question? Sorry if someone has explained this already.

Even if every oil-producing country in the world started accepting Euros, Yen, or whatever as payment for oil tomorrow, would that have a really big impact on the dollar or just a small impact?

Also, if having a strong currency is good, why does it seem like so many countries (Notably Japan and China) actually try to keep their currency weak? There must also be good things about having a weak currency. So if the US dollar fell, there would be good aspects to that for the US economy, such as the trade deficiet would go down, presumably. For US workers, and US-based producers of goods it would seem to be a good thing. For consumers, less good, but maybe Americans could actually stand to (horrors) consume a little bit less?
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It could be argued that American exports might increase due to price advantage, and the "trade balance" would thus rock back toward top dead center, but single factor analysis of that sort is risky.

DR
 
Flo said:
Amazing ... I leave for two days and Oliver, while admitting and/or showing he doesn't know a thing about economy, banking, currency trading, and commodities supply and trading, and despite being given loads of explanations and answers, is still stuck trying to shoehorn his latest fantasies about the reasons for the US invasion of Iraq, and future invasion of Iran ...

It would be desperating if it wasn't somehow comical.
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Well, I would love to see you giving a summary of your "I know everything and you're just dumb"-knowledge.

So far you didn't provide anything but making remarks that do not show any interests in the topics you're posting in.

Surprising to me? No.
 
Puppycow said:
Can I ask a question? Sorry if someone has explained this already.

Even if every oil-producing country in the world started accepting Euros, Yen, or whatever as payment for oil tomorrow, would that have a really big impact on the dollar or just a small impact?

Also, if having a strong currency is good, why does it seem like so many countries (Notably Japan and China) actually try to keep their currency weak? There must also be good things about having a weak currency. So if the US dollar fell, there would be good aspects to that for the US economy, such as the trade deficiet would go down, presumably. For US workers, and US-based producers of goods it would seem to be a good thing. For consumers, less good, but maybe Americans could actually stand to (horrors) consume a little bit less?
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These are really good questions and I hardly recommend another thread so they can be answered properly.
 
Oliver said:
Well, I would love to see you giving a summary of your "I know everything and you're just dumb"-knowledge..
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What for ? so you can ignore it like you've ignored almost every bit of information you've been given so far, among it the link I posted to a thread about this very subject ? :rolleyes:
 
Flo said:
What for ? so you can ignore it like you've ignored almost every bit of information you've been given so far, among it the link I posted to a thread about this very subject ? :rolleyes:
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For the reason that people in here might at least consider that you might have a little bit of politeness concerning posting on topic.
 
Oliver said:
For the reason that people in here might at least consider that you might have a little bit of politeness concerning posting on topic.
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Young man, some advice on politeness:
- it isn't polite to initiate multiple threads on basically the same subject (aka America = evil, and why don't people agree with my point of view).
- it isn't polite to initiate a thread on a subject without first informing oneself about the issues one is willing to discuss.
- it isn't polite to demand that people do your homework for you.
- it isn't polite to pretend people have not answered when they have done so.
- it isn't polite to ignore informations, and corrections provided to you.
and finally,
- it isn't polite to whine when you're reminded all of the above.

Now, have a good look at http://www.internationalskeptics.com/forums/showpost.php?p=2848856&postcount=41

then run to the nearest library and inform yourself on currencies and commodities trading before writing any further into this thread. Just so you know, before working in the health field I worked in trading (commodities and currencies) for a swiss bank for a few years ...
 
Flo said:
Young man, some advice on politeness:
- it isn't polite to initiate multiple threads on basically the same subject (aka America = evil, and why don't people agree with my point of view).
- it isn't polite to initiate a thread on a subject without first informing oneself about the issues one is willing to discuss.
- it isn't polite to demand that people do your homework for you.
- it isn't polite to pretend people have not answered when they have done so.
- it isn't polite to ignore informations, and corrections provided to you.
and finally,
- it isn't polite to whine when you're reminded all of the above.

Now, have a good look at http://www.internationalskeptics.com/forums/showpost.php?p=2848856&postcount=41

then run to the nearest library and inform yourself on currencies and commodities trading before writing any further into this thread. Just so you know, before working in the health field I worked in trading (commodities and currencies) for a swiss bank for a few years ...
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No, no. I asked you for your personal opinion since you're continually "demonstrating" :rolleyes: that you're much wiser than me - on which I didn't disagree about this issue, as you might have noted in the OP.

So? What is your opinion?
 
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