These Creditors
from the i've-fallen ... and-that's-about-all-i-have-to-say-about-that ... dept.
From the article, "Can the US Break Its Fall?" by Jim Lobe.
"If, for commercial or political reasons, any of these creditors decided to dump their hundreds of billions of dollars of dollar-denominated assets – or in the case of key energy exporters, for example, to price their commodities in a currency other than the dollar – the economic impact would be "grave," according to Charles Freeman, retired U.S. ambassador to Saudi Arabia. Freeman's point was echoed for the first time last week in the U.S. intelligence community's annual review of the major global threats facing the nation."
Fact is, Saddam Hussein attempted to denominate his oil in gold, so we killed him. Mahmoud Ahmadinejad has pined out loud about having to take dollars for oil, even when selling it to non-US customers. Are we going to just knock off everybody who won't let us shake them down?
I recommend the whole article, but make sure you're not already depressed.
Posted: Tuesday - February 19, 2008 at 07:18 PM |