http://www.mediamonitors.net/williamclark1.html
i read this interesting article, i know you bush backers can ignore the typical liberal rhetoric, but the article does bring up some very good points.
long article, but it basically says that the u.s. fears a flight from the dollar to euros by opec countries, which...if not done in stages, will quickly devalue the dollar and wreak havoc on our economy. iraq switched from dollars to euros in dec. of 2000 and look what's happening now. north korea just switched a few months ago (with little impact however). iran is thinking of switching, and russia has also hinted of switching. another threat is that of venezuela, which is also converting to euros and bartering their oil (which essentially leaves the dollar out of the transaction).
if you look at the dollar in the markets for the past year or so, it has steadily lost ground against the euro (about 30%). the eu with possible added members in the next few years will be a match for the u.s. both in terms of population and GDP (u.s. 280million, 9.5 trillion GDP, e.u. 450 million, 10.6 trillion GDP). one the u.s. has iraq under its control it can exert its power to either threaten countries (i.e. saudi arabia, iran) not to switch, or pump out massive amounts of oil, thus breaking the hold opec has on oil prices...
i read this interesting article, i know you bush backers can ignore the typical liberal rhetoric, but the article does bring up some very good points.
long article, but it basically says that the u.s. fears a flight from the dollar to euros by opec countries, which...if not done in stages, will quickly devalue the dollar and wreak havoc on our economy. iraq switched from dollars to euros in dec. of 2000 and look what's happening now. north korea just switched a few months ago (with little impact however). iran is thinking of switching, and russia has also hinted of switching. another threat is that of venezuela, which is also converting to euros and bartering their oil (which essentially leaves the dollar out of the transaction).
if you look at the dollar in the markets for the past year or so, it has steadily lost ground against the euro (about 30%). the eu with possible added members in the next few years will be a match for the u.s. both in terms of population and GDP (u.s. 280million, 9.5 trillion GDP, e.u. 450 million, 10.6 trillion GDP). one the u.s. has iraq under its control it can exert its power to either threaten countries (i.e. saudi arabia, iran) not to switch, or pump out massive amounts of oil, thus breaking the hold opec has on oil prices...
