[lbo-talk] Goldman on Greenspan & the US c/a deficit

[boddi satva]

I have been saying for years to anybody who would listen that the thig
which props up the US economy is not our military or our relative
geographical advantages but the superiority of the dollar-based
financial system. It is simply much more likely that a saved or
invested unit of currency will find it's way into our system than into
any other because we have created the broadest, fastest, most liquid
system to connect the world's capitalists.

The challenge, I think, will come from the euro-based system because
it has fewer theoretical upper limits. But the contest is the desire
and ability to develop a true trans-national basis for finance and the
world's simply accepting American financial standards and practices as
their own.