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

[Travis Fast]

And how pre tell do you separate the military superiority of the US as 
it emerged from the second world war from the capacity of the US to 
develop these qualities in capital markets?  People have to trust in 
fiat money and  the statue of liberty while providing a nice hood 
ornament hardly creates the requisite conditions of "in the god we trust".

Travis

boddi satva wrote:


>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.
>
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