I think it's not just about the currencies, it's about the real (non "financialized") economies. We've become so accustomed to US$ dominance and having our way and whatever, we've forgotten perhaps that we don't have much of an industrial or natural resource basis of our economy at present. It kills me when people say blithely oh well, 60 or 70% of US GDP is consumption! GDP isn't consumption, it's production.
Years ago, Economist Lyndon LaRouch explained how people all over the world felt safe holding US Dollars and, if the Dollar no longer makes them feel safe, those billions of dollars will come back to the USA so fast you'll hear the WHOOSH and there will be an immediate deflationary depression.
Spiro Agnew was right about you Nattering Naboobs of Negativity. I guess we will.find out how well Rupee denominated oil will work. I wonder what a graph of currency values worldwide over last 20.yea4s looks like.
I think it's not just about the currencies, it's about the real (non "financialized") economies. We've become so accustomed to US$ dominance and having our way and whatever, we've forgotten perhaps that we don't have much of an industrial or natural resource basis of our economy at present. It kills me when people say blithely oh well, 60 or 70% of US GDP is consumption! GDP isn't consumption, it's production.
Years ago, Economist Lyndon LaRouch explained how people all over the world felt safe holding US Dollars and, if the Dollar no longer makes them feel safe, those billions of dollars will come back to the USA so fast you'll hear the WHOOSH and there will be an immediate deflationary depression.
Spiro Agnew was right about you Nattering Naboobs of Negativity. I guess we will.find out how well Rupee denominated oil will work. I wonder what a graph of currency values worldwide over last 20.yea4s looks like.