Saturday, February 26, 2005

Is the dollar 'being dropped'?

Check out these international news stories.

This link is Google News, so the links that you see in the future may differ from what I just read:

Russia has been moving away from the dollar for cash reserves and towards using the Euro to sell oil (Russian Pravda news) and there is little we can do about it (compare this to other oil producing countries like Iraq, Venuzuela, and Iran - their switching to using the Euro to sell oil has caused extreme responses from the US government in the last 3 years).

"Federal, corporate and private debt is in the trillions, and Japan and China could wreck our economy just by dumping the debt paper they hold on the market." This would be very bad for them also, but it is still disturbing to not control our own fate.

One last good read: Conservative writer Patrick J. Buchanan blasts Bush's foreign policy and the neoconservatives who seem to have hijacked our government. A quote from his article: "In 2003, we invaded a nation that had not attacked us, did not threaten us, and did not want war with us to disarm it of weapons it did not have. Now, after plunging $200 billion and the lives of 1,400 of our best and bravest into this war and killing tens of thousands of Iraqis, we have reaped a harvest of hatred in the Arab world and, according to officials in our own government, have created a new nesting place and training ground for terrorists to replace the one we lately eradicated in Afghanistan."

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