Update: Critics Assail Weak Dollar at OPEC Event
Like everything else, the administration has touched, corrupted and razed, Bush’s stewardship of the dollar has been less than competent and honest.
Readers of the foreign and left press are aware that should the neocons continue to dictate foreign policy, not just political and humanitarian disasters will ensue; some speak of suggestions and precursors of economic disasters.
One sign: The Dollar's weakness.
Sure, economists will tell you that this is a necessity to offset trade deficits, among other considerations.
But the foundation of the neocon project of an American empire led by an economically stable America will no longer be seen by the world as plausible - moral, fiscal and political considerations aside.
From The Independent in the UK.
The dollar's decline: from symbol of hegemony to shunned currency
The decline of the dollar, symbol of US global hegemony for the best part of a century, may have become so entrenched that some experts now fear it is irreversible.
After months of huge and sustained turmoil on the money markets, lack of confidence in the world's totemic currency has become so widespread that an increasing number of international traders are transferring their wealth to stronger currencies such as the euro, which recently hit its highest level against the dollar.
"An American businessman over here who is given the choice would take anything but the dollar," David Buik of Cantor Index said yesterday. "I would want to be paid in yen, and if not yen then the euro or sterling."
Matthew Osborne, of Armstrong International, added: "The majority would say sterling. There are a few dealers in the City who may take the view that they'll take dollars now, while they're cheap, and hold on to them for 12 months.
More at The Independent in the UK.
For an insightful interview on American economic and military idiocy, see Gabriel Kolko in the German SPIEGEL ONLINE.
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Readers of the foreign and left press are aware that should the neocons continue to dictate foreign policy, not just political and humanitarian disasters will ensue; some speak of suggestions and precursors of economic disasters.
One sign: The Dollar's weakness.
Sure, economists will tell you that this is a necessity to offset trade deficits, among other considerations.
But the foundation of the neocon project of an American empire led by an economically stable America will no longer be seen by the world as plausible - moral, fiscal and political considerations aside.
From The Independent in the UK.
The dollar's decline: from symbol of hegemony to shunned currency
The decline of the dollar, symbol of US global hegemony for the best part of a century, may have become so entrenched that some experts now fear it is irreversible.
After months of huge and sustained turmoil on the money markets, lack of confidence in the world's totemic currency has become so widespread that an increasing number of international traders are transferring their wealth to stronger currencies such as the euro, which recently hit its highest level against the dollar.
"An American businessman over here who is given the choice would take anything but the dollar," David Buik of Cantor Index said yesterday. "I would want to be paid in yen, and if not yen then the euro or sterling."
Matthew Osborne, of Armstrong International, added: "The majority would say sterling. There are a few dealers in the City who may take the view that they'll take dollars now, while they're cheap, and hold on to them for 12 months.
More at The Independent in the UK.
For an insightful interview on American economic and military idiocy, see Gabriel Kolko in the German SPIEGEL ONLINE.
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