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View Diary: New: concern trolling the euro (241 comments)

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  •  Don't blame the Europeans (6+ / 0-)

    The Financial Times writers believe  that "Europeans ... want to see the dollar dethroned". This is not true. The world was happy to accept dollars for over two hundred years because of the country's strenghth and vigor. It was a refuge against currency wars and devaluations. Back then the US was a threat to no one. Europeans, and everyone else, would be more than happy to have the old US dollar back. But Europe cannot prevent the US from self destruction. Europeans don't vote in US elections. For over twenty years right-wing ideology has dominated and implemented deregulation and the steady destruction of government oversight on the economy. As a result, the dollar is no longer a trustworthy currency. It has become subprime. That is what the dollar decline is about. It is not the nasty Europeans who "wish to see the dollar dethroned". Jerome may be gloating but really it is not him who has caused the mess.

    •  I don't know how accurate this is (0+ / 0-)

      At one time there were 4 British Pounds to the dollar.  The dollar is still a lot stronger than it once was.  At one time no one thought the dollar was that great, let alone any sort of reserve currency.  

      Don't like XOM and OPEC? What have YOU done to reduce your oil consumption? Hot air does NOT constitute a renewable resource!

      by Asak on Wed Nov 28, 2007 at 12:31:34 AM PST

      [ Parent ]

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