US Dollar/Euro/OPEC/Iran War/Iran Oil US Dollar/Euro Replacing US Dollar For Oil/Death Of The Dollar: "The Euro-zone does not run a huge trade deficit nor is it heavily indebted to the rest of the world like the US and interest rates in the Euro-zone are also significantly higher. The Euro-zone has a larger share of world trade than the US and is the Middle East’s main trading partner. And nearly everything you can buy for dollars you can also buy for euros—apart, of course, from oil. If OPEC were to convert their dollar assets to euro assets and then require payment for oil in Euros, their assets would immediately increase in value, since oil-importing countries would be forced to also convert part of their assets, driving the prices up. [Common Dreams Nov 15/04]
In the coming rearrangement of the world economic order, the euro could easily hold equal parity with the US dollar—if not supplant it outright as the world’s premiere “product”."
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