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An excellent article by Michael Hudson, reiterating and updating previous points delineating the manner in which the USA has used the reserve currency status of the dollar to unwillingly enlist the rest of the world to finance the military encirclement of Russia, China, the Mid-East and Central Asia with US military bases.  Now he is pointing to the likely means towards the possible unraveling of that accomplishment.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Jun 20th, 2009 at 10:17:19 AM EST
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are all that interested in using the only eisting alternative to the dollar, which is the euro.

They will NOT be able to create another alterantive themselves, because who would be crazy enough to put one's savings in rouble or yuans?

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Sat Jun 20th, 2009 at 12:33:46 PM EST
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