A Quote by Lakshmi

I'm cautious about the currency situation, oil pricing and the economies of some countries not performing as we are expecting. — © Lakshmi
I'm cautious about the currency situation, oil pricing and the economies of some countries not performing as we are expecting.
I started digging and found that Israel signed a peace treaty with the United Arab Emirates after the country had diversified their economy, instead of being solely oil-based. This diversification had brought about modernization. I realized that if you land the price of oil, countries will diversify their economies and as a result, modernize.
Oil could complicate domestic politics in countries with too much of it - there is a reason economists talk about 'the curse of oil,' and dictatorships have thrived in countries with abundant natural resources.
I came back to performing with a different attitude about performing and myself. I wasn't expecting perfection any more, just hoping for an occasional inspiration.
The country that's been most successful at that is Norway. The more typical countries are those in the Middle East where a small group seizes those resources, uses it to buy arms to make sure that they can oppress the remainder, and you get these great inequalities. So Canada is among the better performing of the natural resource economies, but it's still not up to the best performing.
Take a look at the way that Trump has described some of the foreign countries that we deal with - some that are allies and some that are not. China is one example. He said they were currency manipulators, but after he sat down with President Xi and had a piece of chocolate cake, he then said they were no longer currency manipulators.
Many countries are looking at the virtual currency and the digital currency. Now, the issue is a virtual currency by the government, digital currency by the government that is one area to look but on the other hand, there are private cryptocurrencies as well.
This is also evident in Europe, not the dependence on oil and gas, but the fact that structural reforms are long overdue, and I think that the leading economies are very pragmatic and efficient in addressing the issues facing the European economy. That is why we keep approximately 40 percent of our gold and foreign currency reserves in euros.
I think it's going to end up a lot like the Internet. Some countries try to regulate the Internet - bitcoin will be very much like that. It will be legal, and there will be some countries with currency control.
Measuring the oil industry in dollars gives you a very warped view. Pick a sound currency such as Swiss francs or gold grams and look at the oil business through that lens.
I don't think for a minute we went to Iraq for oil. It just so happened that it had oil. But I think we'll come out of the Iraqi situation with a call on their oil at market price.
To ensure fair competition, there must be effective controls on currency manipulation, and monopoly pricing needs to be outlawed on such items as intellectual property, especially pharmaceuticals.
Some people say that the West has a cruel history. These people also may see the achievements of Western countries - in terms of the economy, education, health, and social achievements - as a result of exploitation of poorer countries, including Arab countries. Western nations get rich by using resources such as Arab oil. Meanwhile, the countries supplying them raw materials remain poor. Due to such injustices, jealousies are created.
Let's be cautious about dreaming up extreme scenarios. The situation in Iraq is still salvageable.
The reserve currency role seems to add prestige to an area and some people in Europe have talked about the desirability of the euro becoming an international reserve currency.
It is incorrect and unwise to imagine that some day all producer countries will be able to export their surplus oil, and Iran will not be able to export its oil.
If you ask the average person on the street about U.S. energy and U.S. oil in particular, our situation, most Americans would say, 'Oh, we're energy poor; we don't have enough oil; we don't have enough natural gas.'
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