Is Jay-Z signaling a recession? There is something quite alarming on the recently released “Blue Magic” music video ... it wasn’t sex, drugs, violence or explicit language that shocked my conscience. It was the Euros. The Jay-Z video flashed large stacks of $500 Euros. When I start seeing rap stars flashing euros instead of U.S. dollars, I know our economy is in trouble.
posted by azazello on Nov 5, 2007 - 88 comments

On Tuesday, the Federal Reserve cut interest rates by 0.5%. Wall Street aggressively demanded the cut to stop the sub-prime mortgage contagion from triggering a credit crisis among large US and foreign investment banks and the collapse of their over-leveraged hedge funds, which ultimately threatened to drag the US economy into recession. The market rallied this week in response to the Fed's move. But there is no free lunch. [more inside]
posted by Pastabagel on Sep 20, 2007 - 99 comments

Euro's rise raises 'catastrophic' fears The euro rose on Thursday, topping $1.35 for the first time ever, amid speculation that the United States would not act to counter the dollar's decline. . "If we remain in a situation without any coordination, we can imagine a catastrophic situation" for the global economy, Finance Minister Hérve Gaymard of France told manufacturers during a factory visit Thursday in Strasbourg
posted by Postroad on Dec 24, 2004 - 60 comments

What if oil was traded in euros? "Even more alarming, and completely unreported in the U.S. media, are significant monetary shifts in the reserve funds of foreign governments away from the dollar with movements towards the euro. It appears that the world community ... seems poised to respond with economic retribution if the U.S. government is regarded as an uncontrollable and dangerous superpower." An analysis of the previous link. Apologies to those I
posted by Birichini on Apr 23, 2003 - 25 comments

It started in November of 2000, with Iraq wanting to switch to the Euro for oil payments. Following recent events, Muslims at large are thinking about dropping US currency for the Euro. With a large US presence now in the Middle East, this event may never occur.

Related Stories
http://www.informationclearinghouse.info/article1554.htm
http://politics.guardian.co.uk/euro/comment/0,9236,940790,00.html
posted by CrazyJub on Apr 21, 2003 - 9 comments

Is the currency that oil is denominated in the real reason for the Iraq War? "The Federal Reserve's greatest nightmare is that OPEC will switch its international transactions from a dollar standard to a euro standard. Iraq actually made this switch in Nov. 2000 (when the euro was worth around 80 cents), and has actually made off like a bandit considering the dollar's steady depreciation against the euro. (Note: the dollar declined 17% against the euro in 2002.)"
posted by thedailygrowl on Feb 11, 2003 - 35 comments