[dennisw]

ping

[Former Proud Canadian]

Good read until the tenth paragraph.

[HiTech RedNeck]

Tinfoil anyone?

[Just mythoughts]

The US has oil, appears that it is in the interest of a few to keep it in the ground. Wonder if those votes are bought in EUROS?

[thoughtomator]

Classic example of unjustified confidence in the Euro. It is the Euro which is in trouble, not the dollar. All the Euro economies are stagnating - who wants to tie themselves to that?

[DB]

I guess this guy got his PHD in a crackerjack box...

First, taxes aren't voluntary. Duh...

No one forced other countries to use or invest with dollars. It just so happens dollars are safer holdings of wealth verses other currencies. Especially in times of trouble. In addition these other countries wanted us to buy their products. Hence they received dollars in exchange... Shocking...

I'll laugh my butt off if the Euro becomes the worlds "reserve currency". The Euro is an illusion coming apart at the seams. There will be major losses for all that go down that road.

[tort_feasor]

This is gold bug nonsense. There are litterally hundreds of billion in foreign currency exchanged every day. Someone who wants to buy oil in euros swaps his euros for dollars the momemt of the trade. While this creates an artifical demand for dollars it is tiny in comparison to the American economy. For example if there are 100 million barrels of oil traded daily at $65.00 a barrel, that is a demand of only, $6.5 billion dollars for the oil trade every day. The American economy is over $10 trillion dollars in size. Which make $6.5 billion a mere 0.65% of the size of the economy.
I posit another theory. The American government is the most free has the strongest property rights and is the only country with the millitary might to protect its interests globally. That certainly makes it a better investment than, any other currency.

[Jaysun]

Crackpottery.

[G.Mason]

"No doubt, Commander-in-Chief Ben Bernanke, a renowned scholar of the Great Depression and an adept Black Hawk pilot, will choose inflation. Helicopter Ben, oblivious to Rothbard's America's Great Depression, has nonetheless mastered the lessons of the Great Depression and the annihilating power of deflations."

Yeah ... What he said.

[Thermalseeker]

Many have criticized Bush for staging the war in Iraq in order to seize Iraqi oil fields. However, those critics can't explain why Bush would want to seize those fields-he could simply print dollars for nothing and use them to get all the oil in the world that he needs. He must have had some other reason to invade Iraq.

Really? Maybe it was no-bid contracts for Haliburton subsideary KBR? Nah, Haliburton has been trying to sell KBR for quite a while. Must be another reason.... /sarcasm off

[Colorado Doug]

Bump for later read

[Travis McGee]

I read it last week on 321Gold. Interesting take. What happens when the era of dollar supremacy comes to an end?

For 50 years, we've been able to "play Monopoly" with the world, and at the same time play the games "banker." This sure gives a player a mega-advantage! What happens when we can no longer play "banker" and print all of the thin-air money we want?

Interesting times.

[Froufrou]

Following your bread crumb trail ping.

This is maybe the single most telling article I’ve read. Enlightening, to say the least. Please tell me, if there’s more.

[RinaseaofDs]

Some countries are debating internally about how to unwind themselves from the Euro as we speak.

France and Germany are punishing smaller countries for violating debt/GDP ratios, when at the same time France and Germany are violating them too.