The base currency was introduced a while back and was called the euro
But the powers that be in world finance arn't about change .
Having a world currecy reserve in just one nations favour isnt a teat you stop
suckling on easily
Looking at crude well its the major commodity that once again is traded in US dollars through I believe two companies Us / uk based.. I read a piece a while back that made a observation that Saddams final nail in his well deserved coffin was that he demanded payment for crude in euros rather than US dollars
(thats been fixed btw back to us $ now))..and that was indeed a weapon of mass destruction .. I believe Iran is rocking the boat also of late
http://economictimes.indiatimes.com/...ow/3000162.cms
And lets not forget venezuala .. socialising national resources by whatever whacko
is always going to come down to the money lost by investment even if there principil is paid out to exon or whoever.
"After
Hurricane Katrina battered the United States’
Gulf Coast in late 2005, the Chávez administration was the first foreign government to offer aid to the devastated regions. The Bush administration opted to refuse this aid. Later during the winter of 2005, various officials in the Northeastern United States signed an agreement with Venezuela to provide discounted heating oil to low income families.Chávez's socialist ideology and the tensions between the governments of Venezuela and the US have had little impact on economic relations between the two countries. In 2006, the US remained Venezuela's largest trading partner for both oil exports and general imports; bilateral trade expanded 36% during that year
[169]"
My and your money in the scheme of the global ecconomy just dosn't matter much
Though it is a handy little cash cow to use to try and fix up the big end of town
while keeping us feeling all warm and fuzzy about it .