Quote:
Originally Posted by teomaxxx
you can laugh, but when petrodollars concept is changed, I am sure, there wont be any laugh in the US anymore, .
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And that my friend is the reason that all these predictions about this just being a short term "correction" is going to fail - as soon as the rest of the OPEC nations convert to not accepting US Dollars - which one has already done recently - and only accept Euros for oil contracts - all support for the US economy will be gone. The only thing that would make it a worse "perfect storm" would be for the Chinese to pull their investments in the dollar (which would totally collapse the US markets) - and we will be much worse off than all those 3rd world countries people are posting about - the depression will look like a cakewalk compared to what this would bring