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A very good analysis and worth reading, particularly as it articulates the fact that a unified Europe trading bloc will challenge the utterly dominant role the dollar has enjoyed for decades as THE international reserve currency. But it is not, IMO, the dominant reason for this conflict nor does it explain Bush's choice of war for dealing with it.
There are multiple factors that have pushed U.S. foreign policy into its present state. If currency macroeconomics were the dominant driver, there are other strategies that would protect the dollar and devalue the euro without risking war, instability and a recession caused by increased energy/fuel prices.
On the economic front, what we Americans should really be asking is how is the U.S. going to pay for this war (and the ones likely to soon follow) and all of the bonds we are hyper-selling to the rest of the world? There's only taxes or inflation. That's one of the reasons spot gold has been charging upwards for the last year--anticipation of inflation.
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