Connecting the Falling Dollar, Rising Oil Prices
Regarding “Crude Tops $51, Signaling More Pain at Pump” and “Stocks Fall on Dollar, Oil Concerns,” Feb. 23:
The dollar’s drop by 45% relative to the euro, in the recent past, simply indicates that crude at $51 is essentially crude at $35, in the recent past.
The question is how we can all live under the delusion that the falling value of the dollar is of little importance in a world-based economy. One hopes that recognizing the delusion will not be caused or accompanied by international investors dumping the dollar.
D.A. Papanastassiou
San Marino
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