Every action thus far is ensuring the death of the dollar.
You may think Obama is the boss, fair enough.
Obama is in fact a patsy, he will be there for one term. In fact he only has 2 years to get anything done. Tonight he has gotten cap and trade by 219/212 in the house. Many Dems have woken up but unfortunately 4 too few.
Big changes coming to the US.
Originally Posted by youngdan
I wouldn't bet the mortgage on that. The Republicans are despised by many in the ever-more-important Hispanic population ( Sotomayor controversy etc ). In 2009, no party can afford to lose Hispanic votes - and the Republicans are bleeding them in droves. Worse, the Republicans don't have anything resembling a unified party. The face of the Republicans is now Rush Limbaugh, Glen Beck and so on, talking endless sh*te.
For the Republican vote to recover in only 4 years, they're going to have to make some serious changes. And judging by the fact that Sarah "Retard" Palin is still in the limelight, they haven't even begun yet.
Obama can consider himself "lucky in his enemies".
If the Chinese pull the plug, though, that's another matter.
I will only respond to this as the rest is correct except Palin got a bum rap. The other day Obama screwed up and everyone could see the question was planted. He is as dumb as a brick.
It is hard to follow geopolitics as who knows what the truth is. But if we for the moment we say everything is on the level then it is China that has the problem because the US can just default and leave them holding the bag. The only country that dosn't have to worry about the dollar is the US.
But things are not as they appear in my opinion. The bankers are trying to bring in their world currency under their control and the only hope is the bric countries will not go along.
If ever reserve status goes, America is royally f*cked. All that is propping it up at all and preventing its complete destruction as an economy of any power still is that Dollar status as reserve currency. I don't think its going to stop being a reserve currency any time soon, but, if and when it does, America will be finished as a superpower. We, by extension, will be screwed.
They are finished as a hyper power anyway. They will not become weak as such , but china, india, russia and the EU are all serious players economically now and that is all that matters really. Control of energy was power in the last 70 years. When oil and gas become less important the USA no longer has power over others. The dollar will not last as it is, the level of debt in the USA is biblical, its like the situation here a couple of years ago. When people realise that this money will never actually be repaid the penny will drop.
Oil and gas will be a major player,Bammy's stunt with cap and trade is going to drive Americans nuts when their paying 7-8 bucks a gallon and drive industry costs through the roof.
A champion of the people emerges with the age-old and appealing promise of "something for nothing" - to be financed through every-increasing taxes. Supply and demand are thrown out of gear - the overhead goes up; the effective use of human energy goes down; the standard of living is lowered because money cannot buy wealth that is not produced.
WEAVER, HENRY GRADY,
Within ten years most people are going to be driving some form of "eco" electric car. Nobody control its power source therefore the advantage the USA and thus the dollar will fade. This greenhouse thing is the greatest load of rubbish from a scientific point of view but it makes alot of political sense for anyone who is importing oil.
The americas got ahead because of freedom, resources and hard work. They are now tired, lazy, in debt and running out of resources and friends. Obama is a fresh breeze but the overall direction is still downward. Other than military and cultural power they have little left. The american financial system has failed and destroyed any allies that followed them(like us).
The EU should probably try to save the USA because bad and all as it is, it beats the hell out of China.
The UN has stepped into the fray:
The above is actually quite big news ... admittedly long term - so few political types are interestedTelegraph
The dollar should be replaced with a global currency, the United Nations has said, proposing the biggest overhaul of the world's monetary system since the Second World War.
In essence, the report calls for a new Bretton Woods-style system of managed international exchange rates, meaning central banks would be forced to intervene and either support or push down their currencies depending on how the rest of the world economy is behaving.
cYp
"Yawn , am I alive yet ?"
It will take many years for the Dollar to be reduced in standing, but further progress is being made:
al jazeera
Leaders from Latin America and the Caribbean have agreed during a summit in Bolivia on creation of a regional currency aimed at reducing the use of the US dollar.
cYp
"Yawn , am I alive yet ?"
What they seem to be proposing is something like the ERM that pre-dated the Euro.
The effect would be to lock the exchange rate of all currencies together. This would lead to a de facto world currency. This would reduce exchange rate risk, but decrease flexibility.
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