by AndyA » Thu 27 Nov 2014, 15:56:40
This is mostly msm bullshit. Countries with floating currencies see a decline in their currency, boosting the value of their exports and the revenue impact is very low. This simple fact seems to escape nearly everyone. Add in the fact that globally many countries are actively engaged in devaluing their currency for this very reason, it's very hard to find any basis for calculating national budget needs based on a USD price of oil.
Countries with high external debt denominated in USD will assuredly feel the pinch, but those are few and far between among oil exporters.
I wouldn't even include Libya in that list since it is now a failed state with no government, various regions controlled by various warlords.
Another point worth mentioning is that there are many countries with far less in the way of 'money good collateral' running high deficits for social and military spending.
If you want the truth to stand clear before you, never be for or against. The struggle between "for" and "against" is the mind's worst disease. -Sen-ts'an