Iran Has Halted Oil Transactions In Dollars - It begins...

[uscitizen]

Don't be believing of rumors.

 

[LadyT]

That's the debate. There is no single point where all can jump safely to foreign currencies. The sale off will speed the decline and many will be caught holding the bag.

That still doesn't negate from the fact that everyone CAN buy currencies (provided they have money to begin with). And I DID NOT say that it would speed up the decline. That's the entire point: less demand will reduce the value. You originally stated that we'd have to go back to a gold standard in order to bail out the banks and I'm telling you that the big banks for the most part would be hedged in other currencies.

Now if you want to be retarded like toppy and claim that it's all okay so long as you are not one of "the winners," then that's fine. But I am interested in discussing economics not investment plans and finance that dumbshits (toppy not you) confuse the subject as being. Economically it will be devastating and many will lose wealth.

Thank you Mr. Obvious.



Stop! Haha, I don't think you understand. When your employer or some other debtor pays you in greenbacks wll see if the law stops anything. Now you can renegotiate with your employer and I am sure that would happen quickly, but you will likely out of a job by shortly thereafter.

And if the state decides to get a little more rough on its interpretation the renegotiation might not even be possible.[/QUOTE]