Soros sees oil tie to dollar slide
As a very recent visitor to our neighbor to the north, I miss the days of getting a 50% sale on everything I bought up there. Thanks to the weak dollar, it’s practically the same as spending American coin up there (and getting a huge price hike)! According to George Soros, a man who knows a little bit about currency speculation, the fact that the central banks in oil exporting countries have moved from dollars to euros as a currency of exchange is the reason I’m paying so much more for a crepe, a Cuban cigar and a pair of Aldo boots. Is it possible that those countries are afraid of some form of punitive action by the US administration and are trying to limit the U.S.’s ability to get funding in a pre-emptive attempt to stop said action? Or could it be that they just do not trust that we will not fall into a spiraling deficit? Anyone who knows more about this than many (READ: anyone), please feel free to enlighten me.