It makes no difference what its priced in. What makes a difference is whether you can convert freely from dollars into euros etc. If all you do is change what its priced in, and leave the rest of the markets alone, it makes no difference at all.
Think about it for heavens sake. If they don’t want to hold dollars, they can change them tomorrow. If they don’t want to hold euros they can change them tomorrow. If its priced in euros, you just hand over the same amount in dollars, they change them or they don’t. Or you change first, and then buy, and then what do they do? Its a global totally free market in currencies.
The problem will not occur when people change what they list things in. Any more than it matters what they list Brent Crude in. The problem happens when they won’t take your money.
A bit like the corner shop. It lists prices in euros. So what? Its when you cannot change your pounds or dollars for euros that things get sticky.
This stuff about the dollar and oil is so stupid.
It makes no difference what its priced in. What makes a difference is whether you can convert freely from dollars into euros etc. If all you do is change what its priced in, and leave the rest of the markets alone, it makes no difference at all.
Think about it for heavens sake. If they don’t want to hold dollars, they can change them tomorrow. If they don’t want to hold euros they can change them tomorrow. If its priced in euros, you just hand over the same amount in dollars, they change them or they don’t. Or you change first, and then buy, and then what do they do? Its a global totally free market in currencies.
The problem will not occur when people change what they list things in. Any more than it matters what they list Brent Crude in. The problem happens when they won’t take your money.
A bit like the corner shop. It lists prices in euros. So what? Its when you cannot change your pounds or dollars for euros that things get sticky.
Now, is there any sign that is happening?
No.