by Nickel » Tue 29 Jul 2008, 13:48:16
$this->bbcode_second_pass_quote('CarlosFerreira', 'N')ote, what he's doing is trading (directly) oil for goods, although he used the $100 price tag and money to have a perceived price label and to be able to trade with capitalist countries; however, this is a major disruption of normal market trade rules, and the US are not going to like it.
He's coming late the idea. The Chinese are already dropping out of the Anglo-American oil markets scheme that's handled oil since the OPEC crisis and gone, on their own, back to the model we had before that: fixed-term, fixed-range-price deals with other governments, one-to-one. If China'd been buying anything like the kind of oil they do now ten years ago, the change would be palpable... but this is demand that's largely grown, and been addressed, outside the system. And since they can trade in any currency or barter, there's less need for them to have US dollars (the petrocurrency) to do this. Chavez is just more vocal about it.