[lbo-talk] dollar chaos

Robert Wrubel bobwrubel at yahoo.com
Sun Nov 18 18:29:05 PST 2007


Interesting recap of the recent history of nations converting their reserves and exports away from dollars. This shift has been predicted to happen, but is actually already underway!

Most people I think agree with the analysis of why the dollar has weakened.

The remedies proposed, mostly involving "petitioning" one's government, seem utopian. The one factor the writer here doesn't mention is that many of the creditor nations benefit from American willingness to be global enforcer. They're paying us protection money.

BobW

Nations who hold large amounts of US treasuries are in somewhat the same position

--- bhandari at berkeley.edu wrote:


> Interested in commentary on this.
>
> http://countercurrents.org/hensman171107.htm
>
> rb
>
> ___________________________________
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http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk
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