ClassicMariah03 (November 30, 1999 at 12:00 am)

*speachless* S-S-S-S-S-S-S-S-S-S-S-S-S SEV-SVE-SVE-SVE-SEVEN HUND-HUND-HUND-HUND-HUNDRED BIL-BIL-BIL-BIL-BIL BILLION DOLLORS :O

H13R0PHANT (November 30, 1999 at 12:00 am)

You have it backwards. The bailout devalues the dollar, because it basically means that the U.S. gov will be printing $1Trillion dollars. The bailout is to pay foriegn investors to intice them to keep investing in the U.S. I don't know if you have heard, but the U.K. may be following suite.

crackerfunk (November 30, 1999 at 12:00 am)

As the value of the US$ declines, oil prices rise because it takes more US$ to get a good return on their sale. At the same time, countries with large US$ reserves (like those in OPEC) become more and more likely to dump those US$ the more it's value dips. US$ are not just used to quote a relative price. I'm not offering conjecture, I'm offering facts. If you want more than I've offered you can do your own research or take a couple classes.

crackerfunk (November 30, 1999 at 12:00 am)

No, you are not allowed to settle in any currency you want. The nation selling the oil chooses which currency the transaction actually takes place in. Iran, for example, has already decided that all oil sales will be in the Euro. Actual Euros are being transfered. It is not merely a price quote.

miamidot (November 30, 1999 at 12:00 am)

They are not printing more money. They are selling more obligations to raise the funds. Guys, your govts are giving money to our govt with the promise that we Americans would work hard enough to improve the value of our debt so that our debt can be used as stable form of currency. Your govts do not expect us to pay you back. Thanks for the contribution, guys.

Ba101 (November 30, 1999 at 12:00 am)

The Idea, as I have heard it,is the transfer of wealth to fewer and fewer people and to destroy the dollar so that they can intruduce a new currency as the solution. Printing more money devalues the dollar. according to Senator Paul there is no way now to prevent a recession or depression, just the length/severity of it. this is manipulation by the central bank as it was in the depression. So that they will control more of the wealth see "money masters" video.

miamidot (November 30, 1999 at 12:00 am)

"...are only sold in US$, most importantly oil." Wow! Oil is quoted in US$. Sold vs Quoted - two very different words. If I committed to contract at $110, am I not allowed to settle in Yen? Would Venezuela be happier to receive Yen or US$? Would Yemen refuse settlement in Yuan or Euro on a contract stated in US$? Or would they yell "Thx Allah! for the Yen than lousy US$." You need to provide actual figures, not just conjectures.

GrahamAndFriends (November 30, 1999 at 12:00 am)

yes you are correct. This is my winter beard. When the summer comes it is usually too hot and sweaty to keep the beard. So the beard normally goes in the summer.

meshkiux (November 30, 1999 at 12:00 am)

shave ur beard(: u will look younger and thinner, guarantee(:

crackerfunk (November 30, 1999 at 12:00 am)

The US$ is the de facto currency for reserve banks all over the world. Many things are only sold in US$, most importantly oil. The farther the value of the US$ drops, the less profits can be made by OPEC countries. If/when OPEC switches to the EURO all of those reserves holding US$ around the world will unload them for EUROs, devaluing the US$ even more, and that is when the $hit will really hit the fan.