Some scary stuff about the dollar

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Only helps if there is wage inflation. Possible scenario is that wages stagnant,cost of living inflates and most people's standard of living goes down.

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This is exactly what's been happening for years.


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more scary dollar stuff...oil-rich countries are switching to other currencies:

Venezuela (Citgo) dumps the USD
http://www.bloomberg.com/apps/news?p...d=aZ62iRNzmRo0
Sept. 16 (Bloomberg) -- Venezuelan President Hugo Chavez instructed Petroleos de Venezuela SA, the state oil company, to convert its investment accounts from dollars to euros and Asian currencies to reduce risk. Chavez, speaking in his weekly address on national television, said the U.S. has bought goods from around the world, paying with paper that is ``a bubble.'' ...


Iran moves to ditch U.S. dollar
http://www.upi.com/International_Securit...us_dollar/6990/
WASHINGTON, Sept. 10 (UPI) -- Faced with U.S. economic sanctions and a weak dollar, Tehran is demanding foreign energy companies do business in yen and euros, despite increasingly desperate need for investment.

In a deal announced last week, Japan’s Nippon Oil agreed to buy oil from Iran using yen instead of the traditional U.S. dollars. The agreement comes after years of Iranian efforts to shift its petroleum exports away from dollars and toward yen and euros..

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Some people have written that this is one of the main reasons for the current war. To ensure that the USD remains the currency for the oil trade.
http://www.ratical.org/ratville/CAH/RRiraqWar.html

Petrodollars Wikipedia

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I really don't think it is any coincidence that these two countries are on Bush's "enemies" list.