What can $1.2 Trillion BUY?
 

Good article.

yeah it's obscene, and most of the money has been borrowed from China and friends. Great way to position the country geo-politically.

Yep. And there's talk that the Chinese might switch from the dollar to the euro. Talk about seismic economic impact if that happens.

Thanks. Gonna blog about this one.

What pisses me off the most is that MUCH of that $1.2 trillion was and still is being siphoned away by the CORRUPT Iraqi government. Shades of the Ngo and post-Ngo administrations in South Vietnam. Sad shit.... Joe Six Pack paying his taxes so Chalabi and other Iraqi scumbags can skim off the top in "reconstruction funds."

I'll give you a blowjob but you'll have to fork a lot more for full service ;-)

definitely needs to be some accountability for those who are in charge of the purse strings.

Personally I hate it as a foreigner (because it's really none of my business :)) because printing all that money devalues the USD and makes me poorer :(

i've heard stories that the only reason the american dollar stands where it is, is the whole world trades in it.

The consiracy theory is that iraq was about to switch it's use of currency to the euro, then the states invaded. Iran has already pulled it's money out of overseas assets to "make a statement".. and now talks about changing to the euro.

i'm curious to see what happens

R

yup, but would the money have been spent on all those things if there was no WoI - nope, it would have remained in the military coffers, building up for the next day...

Of course that's the only reason why the America is so rich - if the world traded in Euro, you guys would be in deep deep doo doo.

And Iraq did change trading its oil to euro after '92 - it's not a myth. As is Iran switching.

I could get a new car, and afford gas for at least 1 year.

1.2 trillion would feed every man, woman and child in the U.S. for about 4 years.



It would feed all the people in africa for a lot longer because they don't eat so much and have that uncanny ability to survive on bugs and rocks :thumbsup

China and many countries are diversifying their currency reserves as opposed to purely switching. China has an interest in keeping the US economy strong because the US buys so many chinese products.

Also flooding the market with USD would quickly devalue their own portfolio of >1 trillion USD. So it's likely to be a slow gradual thing, but yes the USDs position as the reserve currency to the world is over.

A whole lot of porn.

You can by the great island

I think getting a target killer to kill Saddam could be a better idea, It might cost max of 100k lolz

good article