If you do not understand why the purchase of oil in anything but the greenback is bad then you need to replace the dung in your head for a brain.
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Not seeing the huge deal… quants at work (State Street) peg all sorts of denominations against USD. Usually this is a service for our clients who have large EUR/GBP/JPY denominated positions in their portfolios and want to avoid Fx translation risk, but it could be applied to anything.
Hell, let those clowns demand physical gold for oil. We (traders) will make a fortune off the bubble.