Hi Scott -

there are a couple of things to keep in mind

1) prices on both the stock exchanges as well as the foreign currency markets are determined daily by flows of supply and demand

2) small changes in either can thus have rather dramatic effects

3) those dramatic effects are often seen by some as fundamental indicators

4) this in turn can affect credit markets

5) finally, only a percentage of that $60 billion for foreign oil goes to Moslem nations, but the multiplier effects of return purchases can range up to 5/1 - in other words, say half it to $30 billion, but then multiply by 5 - $150 billion

ep