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Why OIL price is tied to the Dollar ?

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    #21
    Originally posted by BrilloPad View Post
    Where is atw when you need him?

    EUR seems to have been the next most popular after USD. I still think CHY will take a stronger and stronger position.
    Wotz dat den? Swiss Yen?
    How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

    Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
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    "We hang the petty thieves and appoint the great ones to high office" - Aesop

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      #22
      It used to be priced in GBP but I can't find any useful link to explain when and why it changed to USD. I did come across this piece of sensationalism on the evil British. http://www.larouchepub.com/other/200...brit_game.html

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        #23
        Originally posted by BigTime View Post
        It used to be priced in GBP but I can't find any useful link to explain when and why it changed to USD.
        It's because the main markets for trading oil are in the US and are in USD. I don't think there is any fixed reason why it has to be in USD.
        How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

        Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
        Xeno points: +5 - Asperger rating: 36 - Paranoid Schizophrenic rating: 44%

        "We hang the petty thieves and appoint the great ones to high office" - Aesop

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