The Euro vs Dollar Conspiracy Theory

Toro

Toro

Senate Member
May 24, 2005
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Paranoid Dot Calm said:
The only thing that saved the Euro was that Britian invaded Iraq. 6 months previous, the British economy was about to collapse because Shell Oil and BP were found to have inflated oil reserves by 30%. This "fraud" was far worse then Enron for the British pound.
Click to expand...

The British economy was not going to collapse. The net wealth of the UK is, roughly, $15 trillion. The market capitalization of BP and Shell is about $400 billion. That market cap is a multiple of reserves, and thus lets estimate, for calculations sake, that reserves are about $300 billion. Iraq won't account for more than 10%, so now were down to $30 billion. So $30 billion divided by $15 trillion is 0.2%. So, apparently, this 0.2% saved the British economy.

Besides, Britain uses the pound, not the Euro. If the Britain was on "the verge of collapse", sterling would have crashed, not the euro.

And BP did not inflate their reserves. Royal Dutch did, though.
 
Curiosity

Curiosity

Senate Member
Jul 30, 2005
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Hey Brock

Toro is trying to line up a hunting trip for you to take Yank into the woods for some manly time....oh dear did I put that right?

Anyway it's on the other place...

Another episode of our own SNL!
 
Toro

Toro

Senate Member
May 24, 2005
5,468
109
63
Florida, Hurricane Central
For the lovely Curio

"Afghani Austral Baht Balboa Birr Bolivar Boliviano Cedi Colón Córdoba Mark Cruzeiro Real Dalasi Deutsche Mark Dinar Dirham Dirham Dobra Dollar Dông Drachma Dram Euro Ekwele Escudo Florin Forint Franc Gourde Guarani Guilder Gulden Hryvna Inti Karbovanet Kina Kip Koruna Króna Krone Kroon Kuna Kwacha Kwanza Kyat Lari Lats Lek Lempira Leone Leu Lev Lilangeni Lira ITL Litas Loti Manat aloti Markka Metical Nakfa Naira New Kwanza Nuevo Peso New Peso New Sol New Zloty Ngultrum Ouguiya Pa'anga Pataca MOP Peseta Peso Pound Pound Sterling Pula Punt Quetzal Rand Real Rial Riel Ringgit Riyal Rouble Rufiyaa Rupee Rupiah Schilling Shekel Shilling Sol Som Sucre Syli Taka Tala Tenge Tolar Tugrik Unidades de Fomento Vatu Won Yen Yuan Renminbi Zaïre Zloty"
 
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