Critical mass time for USA

[Mark.Keogh]

Is this year and next the time when the world will fundamentally move away from the USA? Countries will support the USA as long as it can pay its way, missile shield and all the rest. But since Iceland looked to Russia for its bailout because the USA just didn't have the cash could other countries look to China and Europe for their support?

There are two possible consequences of this. The oil will be traded in Euro and strategic points of interest for USA will be stressed. Soldiers have mouths to feed so if moving to Canada to get a job is required then that's what will happen. The one major stress point will be the Israeli lobby in Washington not getting its quota of in/direct subsidies from the USA (roughly $4bn in 2006) it will have to trim alot of costly government expenses. Its borse is down like everywhere else and it is also supporting Gaza's banks. Nothing like a shared experience to bring people together. Perhaps absolute (rather than relative) poverty can be a resolver of differences. Then again I think back to the causes of the troubles, ah nuts.

[bormotello]

The oil will be traded in Euro

Saddam Hussein tried it once. Where is he now?
Even Chavez and Ahmadinejad are not brave enough to do this. Iran knows that that they continue nuclear program and it will be only sanctions, but as soon as they will switch to euro and dollar will be useless piece of paper – it will mean declaration of war to US.

[MookieBaylock]

I don't think that's going to happen for some reason.

In fact I believe that the switch to the Euro is inevitable. If they all (or half of them) do it, America can't fight them all.

[sandar]

What lots of people dont realise is that America was about six weeks from not being able to write a cheque that wouldnt bounce, people would literally have gone to the bank and tried to withdraw funds and the bank wouldnt have had them, that country is one the brink, and politically polarised as well, if it wasnt for China and the Arabian Countries buying the bonds America would have recahed this stage long ago.
The biggest problem is that Bush was too dumb to see the writing on the wall, and spent momey he didnt have on wars he didnt need to fight

[Oppenheimer]

Saddam Hussein tried it once. Where is he now?
Even Chavez and Ahmadinejad are not brave enough to do this. Iran knows that that they continue nuclear program and it will be only sanctions, but as soon as they will switch to euro and dollar will be useless piece of paper – it will mean declaration of war to US.

As long as the US can muster militarily oil will be a dollar traded commodity. I agree with the position of the "real reason" the US went to war in Iraq. It is a theory but a fairly coherent one in the context of a real crippling blow\threat to US hegemony.

OPEC, Iraq, the euro, and global economics

[Mr B]

Saddam Hussein tried it once. Where is he now?
Even Chavez and Ahmadinejad are not brave enough to do this. Iran knows that that they continue nuclear program and it will be only sanctions, but as soon as they will switch to euro and dollar will be useless piece of paper – it will mean declaration of war to US.

Iran has already dropped the dollar in selling Oil from Jan 2008. They now sell Oil in Euro/Yen.

[Oppenheimer]

Iran has already dropped the dollar in selling Oil from Jan 2008. They now sell Oil in Euro/Yen.

So now you know why they are next in line for US "attention".