Sunday, Jun 06, 2010
Is the US responsible for the Euro problems?
The real News Network: What happened to the "death of the dollar"?
US fights to maintain dollar hegemony at expense of their own economy
Posted by the number cruncher @ 02:37 PM (940 views) Add Comment
7 Comments
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1. little professor said...
Please stop posting garbage like this.
2. drewster said...
It's not an entirely outlandish concept. However the Euro's troubles do seem to be largely self-inflicted, I don't see how they could blame the US.
Oh I've just reached 3:30 into the video, where he starts ranting about mysterious powerful elites. FAIL.
3. paranoia blue said...
Lots of poor souls survive on garbage!!!
4. the number cruncher said...
I do not subscribe to its author and he could be a loony with no basis to his views, or he could be a very intelligent man with a lot to say about why we have a financial climate and hence house price bubble that we have.
It makes you think about the large scale geo-political battles that do play between counties and very large financial institutions. These forces are the ones that shape our regulatory landscape.
LP I will post relevant posts as I like, thank you very much - step out of your bubble and think outside of your box...
5. hpwatcher said...
Whether garbage or not, it is an absolute fact that the US wants the dollar to maintain it's status as the worlds reserve currency.
6. mander said...
Is the new comming currency of "Chimerica" not accepted world wide or what?
7. drewster said...
The term "reserve currency" is deceptive. The dollar can more accurately be described as a "trade currency". It makes sense for countries and their banks to hold dollars for day-to-day exchanges, for buying and selling international goods (especially oil), and for general trade. However there's no reason why the dollar should also be used to store reserves. China alone holds $2.5trn in reserves - that's a ridiculous amount. You'd think they would at least diversify into other currencies and possibly commodities.