Quote:
Originally Posted by Mistel
First off, Forbes is famous for saying one thing in the magazine, then doing the other. The article is saying everyone should short the Euro, while I bet Forbes and his buddies are all long the Euro. Believe me, the Euro ain't going anywhere. The European Union continues to grow and soon oil will be traded in Euro's. That will be really nasty for the US. That is also one of the reasons for the rise in oil prices, because it is sold in US$, and the US$ is falling, so oil must rise in price to make up for the lower dollar. Oil priced in Euro's has not risen very much.
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I don't think oil will trade in euros any time soon. Both current oil exchanges (American and English) are owned by the same people.