One Of Us
For the past few years, those focusing on the importance of dollar hegemony to U.S. policy in the Middle East have often been dismissed as looney tunes or conspiracy-obsessed. Meet card-carrying moonbat Mike McConnell, Director of National Intelligence, reporting yesterday on the most serious threats to national security:
As the dollar has weakened this year, some oil producers—such as Syria, Iran, and Libya—have asked to be paid in currencies other than the dollar while others—such as Kuwait—are delinking their currency pegs to the dollar. Continued concerns about dollar depreciation could tempt other major producers to follow suit.Ben's backstop meets consequences...
posted by The Cunning Realist at Wednesday, February 06, 2008
4 Comments:
No wonder someone is cutting the cables that provide internet access in Asia:
http://www.news.com/8301-10784_3-9865263-7.html?tag=cd.blog
Kevin Brekke, our Switzerland-based editor…
“Some very interesting news came my way. Friends of mine just returned from Vietnam; they are native born and spent a month with family. They were quite surprised to find that U.S. dollars were not widely accepted by local merchants. But the big shocker was that the local merchants pegged their prices to the gold price! Every day the exchange rate of the Dong against the price of gold was recalculated. The prices of merchandise would rise or fall with the gold price. The merchant class in Vietnam has essentially put itself on the gold standard. Now if we can just get Paulson and Bernanke on a junket to Hanoi...”
Thanks for your post, very useful information.
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What namely you're saying is a terrible mistake.
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