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I think it's over-optimistic. too many of these countries have large dollar reserves they do not wish to see disappear in a petulant chauvinist fit. Especially china which is pretty keen to keep the dollar afloat whilst it works out how to extract value from its holdings.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Wed Jun 17th, 2009 at 05:59:00 PM EST
[ Parent ]
I still say the Chinese should exchange a lot of that worthless paper for US real estate.  Their "operatives" could settle into neighborhoods across the US and the Cold War of the '60s is won without a shot being fired.  What a sight!  Chinese home owners with Mexican lawn mowers.  And unemployed Anglos living in Tent Cities, feeding out of dumpsters.  Hell of a plot for a movie, don't you think?  A quasi Soylent Green.

In the end, might makes right. Nothing has changed since the caveman.
by THE Twank (yatta blah blah @ blah.com) on Thu Jun 18th, 2009 at 06:09:56 AM EST
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