http://atimes01.atimes.com/atimes/Global_Economy/GE27Dj01.html
Oil is not priced in Dollars: Dollars are priced in Oil.
No deficit-based currency is mathematically sustainable in a world with finite liquid fuel resources, and the Euro is deficit-based. ie it would only put off the evil day.
Keynes had it right at Bretton Woods when he advocated an International Clearing Union - and others, such as Stiglitz and Monbiot advocate variations on that theme.
We need to start over, and I give the system between one and four years before it collapses totally. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
(I'll pass your request on to The Boss ;))
Damn that's quotable! -----sapere aude
What do you suggests is likely to happen that would prompt the celebration of "a new Bretton Woods" conference, and what makes you think that, if Keynes of all people couldn't get the International Clearing Union, anything sensible if going to be put in place next time around? Those whom the Gods wish to destroy They first make mad. -- Euripides
You need political will to make "sensible" happen, and you might get a horror designed by committee (see Kyoto Protocol). Those whom the Gods wish to destroy They first make mad. -- Euripides
