Nobel Hobos 2 wrote:Galloism wrote:
Europe's entire system is currently being held up by the herculean strength of the Fed through this crisis, let's not break them by tripling the price of their oil.
The ECB is pretty strong too, isn't it?
But yeah, the US buying all it's crude on the world market would likely get a reaction from OPEC but even so the price would go up.
The US wouldn't do it anyway. OMG my Balance of Payments!
Not as strong as the fed - we pulled a bunch of currency swaps early this year to hold up a number of currencies, including the Euro.