"in today's global forex markets it is trivial to shift from dollars to euros or whatever you want before or after trading for oil."
You're right, but the point is that after all is said and done, you have to purchase oil in USD, which creates the demand for the dollar; countries are forced to convert currency to USD. The fact that it's easy to do this is irrelevant.
Comments
"in today's global forex markets it is trivial to shift from dollars to euros or whatever you want before or after trading for oil."
You're right, but the point is that after all is said and done, you have to purchase oil in USD, which creates the demand for the dollar; countries are forced to convert currency to USD. The fact that it's easy to do this is irrelevant.