Jim Thompson wrote:

"Paul Hovnanian P.E." wrote in message
...
Jim Thompson wrote:

http://www.marke****ch.com/news/stor...%7D&siteid=rss

Feb. 26, 2008

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As the broader market began to regain lost ground, crude prices for
April delivery gained 2.3% to a new high of $101.11 a barrel on the
New York Mercantile Exchange, surpassing crude's last record of
$100.65 hit last week.


Or, the dollar drops to $101.11 per barrel. That's about 66.96 EU/
barrel. There's a good change that if you offered to settle in Euros,
most oil producers would quote you a better rate than that.

--
Paul Hovnanian
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Life is like an analogy.

That's the right way to look at the transition. In 2003 the EURO makers
said they will beat US because they hated Bush's arrogant act on Iraq,

Too paranoid. Put the aluminum foil hat back on.

The EU simply never allowed itself from being distracted from running
its economies and industries based on sound fiscal principles.

they pushed to Arabic countries to use EURO as their standard currency.

Wrong. OPEC will still take dollars, or a number of other currencies.
You just get quoted a different price, depending on what the demand for
your particular currency is.

Its like the marketplace in Cuba. There's the 'domestic' peso and the
convertible peso. The exchange rate on the convertible is much better
(even than official exchange rates) and, if you are fortunate enough to
have US dollars, magically, the empty shop shelves will be filled and
you become a favored customer.

The dollar is becoming to the rest of the world what the Cuban peso is
to the US dollar.

US over-spent in every corner, that adds up to the mountain of fire.

Which mountain and what fire is that?

--
Paul Hovnanian
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Time's fun when you're having flies. -- Kermit the Frog