He Who Doesn't Like It Stable

It's as if every night I find something disagreeable in some news section or blog. Today, I found an author who thinks it's no big deal and that "it just wouldn't matter all that much" that Iran (and other countries, oil-producing or not) were to price oil relative to a basket of currencies rather than just USD.

According to Justin Fox, the author, this may only result in smoothing (of volatility) of oil prices. And that it won't drastically change the world nor affect the damn USD.

Follow the link below to read my comment (the 2nd one):
http://time-blog.com/curious_capitalist/2007/11/what_if_they_stopped_pricing_o_1.html
It concerns how he thinks if a certain product/commodity were to be priced relative to a basket of things would confuse consumers due to complex conversion issues. What? Do inflation (an index) confuse you guys? Can't retailers simply multiply the index by the base figure to publish prices in local currencies?

With such columnists around, I wouldn't be surprised when finally comes the day you realize how unsustainable the country's deficit is and eventually the dollar go tumbling again. Well, who knows then Iran will say it won't matter much. Chances are they will because they have already taken the precautions, like the current idea.