>both Japan and the EU already have
>#5; and the Eurobanks own and operate the >global credit system, nicely
>mopping up #6.
Come on Dennis, what countries hold significant reserves of yen besides Japan? This is why Soros and the currency speculators flayed them alive back in 1997.
If anything the dollarization of the Asian economies increased since the 1997 crisis since they hoped that a currency that cheapend against the yen --in concord with the US dollar (and like Australian and Canadian dollars)--would keep them in surplus and profitable. Now if the yen even loses 10 percent of its value against the dollar, they are screaming for Japanese blood.
Basically the US wants the dollar to be the global currency and it, for the most part, is.
Charles Jannuzi