Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Except being the oil currency means that you're the global reserve currency (or rather the other way around) which means you can finance your deficits by issuing bonds in your own currency, and at a lower interest rate than would be otherwise possible.

If this is a blessing or curse is another thing...

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Wed Oct 7th, 2009 at 12:15:02 AM EST
[ Parent ]

Others have rated this comment as follows:

melo 4


Occasional Series