Re: Without oil they are nothing.

So the new god is oil? I often here Christians say: "Without God they are nothing." Nice to know Peak Oil thinkers are so rational. End of sarcasm. I suspect that Americans will survive better than most if the Saudi's decouple from the dollar. So what will they accept? The Euro dosen't even have a country behind it; it is pure fiction backed by only a promise and full convertibility to the dollar. European exports to the U.S. would collapse as the Euro skyrocketed. The U.S. economy would boom as globalization brought on by the strong dollar reversed big time. The Yen is from a country that produces no oil or ethanol. The Ruble? Give me a break. The Saudi's have little choice but to accept the dollar, albeit more of them due to their rapidly falling value, because the alternatives are no better in a fiat money world. If they don't trust holding dollars just trade them for gold or whatever as soon as they show up.