Quote:
Originally Posted by Mr. Deltoid
The United States would lose a significant amount of global influence if its currency was abandoned. It will not happen.
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It is happening now at an ever increasing pace. The USD will no longer be the reserve currency of the world. Your case would be valid if we were back in 1985 when we were still the manufacturing behemoth that we were. The only engine for economic power we have now is the American consumer's drive to consume more and more. But even that is dependent on cheap and readily available credit which has now dried up as a result of the mortgage backed securities melt down of the past 6 months. Banks can no longer sell that paper to the secondary market so they are just not writing the loans anymore...game over. We don't produce anything and the only semblance of strength is the American military(who's existence is financed with borrowed money). So now we will have a great big war to create another phony economy..replace cheap easy credit with a bigger war machine. You think The New Deal really got us out of the Great Depression..na..WWII came along and saved our asses...same old story.