2006-08-09 06:13:45 · 10 answers · asked by playtoofast 6 in Politics & Government ➔ Politics
You are one hell of a scream!!!
With your mental capacity make sure you don't go out without your mommy or you will be in serious jeopardy.
2006-08-09 06:19:06 · answer #1 · answered by Walter Ridgeley 5 · 0⤊ 0⤋
Theoetically, yes. But it's much more expensive to move gold around the world than to move money (in wire transfers.) Also, since there's a market for gold, people always know what currency is worth in gold, so it's not worth the extra effort to actually demand payment in a physical commodity.
Also, the value of the US dollar is not based on gold. Nixon got rid of that "demand value" in the 1960s, I think. The value of the US dollar is based solely on the belief that the US has a good economy. Period. And the dollar's value rises and falls based on the economy's relative strength to other countries.
A more interesting question is whether OPEC wants oil to be denominated in Euros, since the Euro is a stronger currency than the US right now.
2006-08-09 13:23:26 · answer #2 · answered by David D 1 · 0⤊ 0⤋
NO. It woud break all other nations first. We are the richest, and most powerful nation on earth. What we are doing now is using all the other nation's resources and maintaining the highest standard of living ever experienced by a general population. When the middle east runs out of oil, they will slide into obscurity because they have developed no other resources, no education, and no strength of solidarity, ie: we are One Nation.. they are many factions fighting amoung themselves, using oil money because that is all they have
2006-08-09 13:36:39 · answer #3 · answered by mr.phattphatt 5 · 0⤊ 0⤋
they can't bankrupt america. i just read a report, in the USA there is more oil than the entire middle east. we'll just have to shut the environmentalists up and start drilling.
2006-08-09 13:18:21 · answer #4 · answered by nyyankeesg1rl 3 · 0⤊ 0⤋
Yeah bankrupting their number one customer; smart business move their ex lax....they love $75 a barrell, take out the US and its down to $25....brilliant.
2006-08-09 13:17:45 · answer #5 · answered by netjr 6 · 0⤊ 0⤋
I don't think they will. Gold is very heavy, a gold transport costs much more than a simple money transfer, and has much bigger security risks.
2006-08-09 13:30:17 · answer #6 · answered by sethnebtjebu 3 · 0⤊ 0⤋
I guess they could, but then we would probably ask for gold when we sell grains, fish, textiles, plastics, metals, etc. etc. etc. The world needs us, just like we need them.
2006-08-09 13:22:08 · answer #7 · answered by Huevos Rancheros 6 · 0⤊ 0⤋
Our nukes trump that gold
2006-08-09 14:58:56 · answer #8 · answered by B C 4 · 0⤊ 0⤋
yeah if they want to go broke themselves they wont get much money from sand if we stop using oil.
2006-08-09 13:21:22 · answer #9 · answered by rmisbach 4 · 0⤊ 0⤋
they will take euros and that will be bad for the american economy
2006-08-09 14:57:03 · answer #10 · answered by Anonymous · 0⤊ 0⤋