Re: What to do about milspace/govspace

On 3 Oct, 19:55, Eric Chomko <pne.cho...@xxxxxxxxxxx> wrote:
On Oct 2, 2:38 pm, simberg.interglo...@xxxxxxxxx (Rand Simberg) wrote:





On Tue, 02 Oct 2007 11:14:25 -0700, in a place far, far away, Eric
Chomko <pne.cho...@xxxxxxxxxxx> made the phosphor on my monitor glow
in such a way as to indicate that:

On Oct 2, 12:43 pm, simberg.interglo...@xxxxxxxxx (Rand Simberg)
wrote:
You're talking petroeuros instead of petrodollars as the only
realistic way to do it. That is an act of war. I ain't pround of the
fact, but if any country does decide to pay for oil with anything but
dollars they should consider themselves a target.

What stupid horse***.

Sure Rand, we have been through this and your America-can-do-no-wrong
viewpoint just can't come to reality on this one.

I didn't say American can do no wrong, you moron. I just said that
your bizarre theory of taking other currencies than the dollar for oil
being an act of war is stupid, even for you, and that's saying
something.

Why do countries hold reserve dollars for oil, then? Why not just use
their own currency and skip the dollar reserves, imbecile?- Hide quoted text -

Countries have reserve currencies for the same reason that we bank.
They have a trading surplus and wish to bank it, or they may wish to
borrow.

They also wish to buy and sell on the international market. To do this
they have to use a reserve currency. Barter is sometimes used but is
rare.

Traditionally oil is bought and sold in US dollars, and dollars are
traditionally what oil producing countries have their reserves in.

Venezuela has recently decided to hold its reserves in Euros. El
petroeuro. Syria that used to hold US$ exclusively now holds 50% in
dollars and 50% in Euros. There is international movement towards
basket currencies and spreading the risk.

Countries are allowed to hold whatever currencies they wish.


- Ian Parker

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