America and the Dollar Illusion
 

America and the Dollar Illusion

By Gabor Steingart

The dollar is still the world's reserve currency, even though it hasn't deserved this status for a long time. The devaluation of the dollar can't be stopped -- it can only be deferred. The result could be a world economic crisis.

Read the entire article: http://www.spiegel.de/international/...440054,00.html


About the Author:

Gabor Steingart, 44, heads DER SPIEGEL's Berlin office. His last book was titled "Germany: The Decline of a Superstar" and, like "World War for Prosperity," was a bestseller in Germany. Steingart was chosen as "The Economic Writer of the Year" in 2004.

Lawlerskates. Amazing that an article that long can completly ignore why the dollar IS still the world's reserve currency as opposed to the historical alternatives.

I'd really like to meet a sensationalist author who could write an article that provided even a semblance of a balanced arguement and still get their point across

interesting article

checking out the article...

US$ vs Euro$ is in a free fall because of interest rates differential. in other words the fed will be force to raise rates or allow to the dollar to fall.

the US abandoned its strong dollar policy over a decade ago, (the strong dollar is the primary reason for its insane current account deficit). Things do not happen with currencies like the US dollar or Euro, Yen, etc without being allowed to happen.

This shit is out of control now that the Chinese control so many $$$.