Since various markets have already been flirting with switching to the Euro, this article seems a perfectly reasonable prediction.
The death of the dollar as the preferred treasury currency appears imminent.
Headline from The Telegraph:
US dollar set to be major casualty of Hank Paulson's bailout
From the Telegraph:
Whether or not tomorrow’s accounts of today’s turmoil prove David Owen of Dresdner Kleinwort right; whether or not this is the beginning of the end of the dollar’s pre-eminence in the world’s central banks and foreign exchanges, the economic landscape has undoubtedly changed forever.
The US taxpayer bail-out of America’s banking sector is an event whose significance will reverberate for many years. What it means for free markets, for the way Western economies are run, for the prosperity of the world economy, must remain to be seen.
China, being very conservative, could be expected to start dumping some of their investments in the US, resulting in still more tsunami waves of economic catastrophe! Is it overstating the case to say that the Bush Administration has bankrupted the US for good, forever, in its eight deplorable years?
Such wild criminal behavior - unending consequences - enormous damage to our reputation and world stability - and no one will be held accountable...