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I've heard the same sort of thing as lemans. Read an interesting article the other day that said that one other thing that props up the dollar is the fact that OPEC (and most other international oil producers) buy and sell petroleum in dollars. So foreign countries hold a lot of dollars. If they ever decided to trade petro with some other currency, all those oil producers and traders wouldn't need all those dollars anymore. They'd coming flooding back; the oversupply would bring the price of the dollar down.
Two of three member of George Bush's "Axis of Evil" countries -- Iran and Iraq (pre-invasion) -- had started trading their oil in Euros. Coincidence?
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