"The war in Ukraine is a war for the dollar" - part 2 of 3 (tags)
Moscow has really threatened the U.S. dollar on the international stage, and with it the entire U.S. economy behind it. Since Putin took office, well before 2021 and even before the anti-Russian coup in Ukraine in 2014, Russia, a leading energy power, has begun the process of liquidating U.S. dollar-denominated bonds. Russia halved the number of U.S. bonds it held.
The financial crisis became an economic crisis and mutated into a state budget crisis when trillions were given to "system relevant" banks and private losses became public burdens. What is Plan B?How can the financial sector be shriveled? Can state banks (like NDakota) be a model?
One man and his donkey bring down the US empire (tags)
With a little help from US corporations
APRIL 25, LA EVENT FOR MUMIA: Saturday, April 25 at the Southern California Library for Social Studies and Research, 6120 S. Vermont, from 5-7 PM.
COLLAPSE OF THE US DOLLAR (tags)
Imagine being sent forward in time from 1967 to 2007. Instead of gas costing 25 cents a gallon, it's $2.50. A decent home, intead of costing $15,000, costs $250,000 or more.
U.S. dollar - a "worthless piece of paper." President Mahmoud Ahmadinejad (tags)
And he is right. A $100 bill is worth the paper it's printed on and backed by nothing else. Up till 1933 the U.S. was backed in gold. You could exchange a $20 bill for an ounce of gold. And up till the 1960's the dollar was backed up by silver. You could go to the mint and trade paper dollars for silver. But now the dollar is backed by NOTHING and a dollar is worth nothing more then the paper it is printed on.
Is the Dollar Hegemony Ending? (tags)
The demand for dollars will fall significantly when oil is transacted in euros. The US must control its twin deficits and reduce its foot-print to keep the confidence of foreign credi-tors. Radical restructuring and removal of incompetent leadership could avert crash.
The denomination of oil sales is a pyure transaction affair.. In the present situation, the oil bourse represents a symbolic manifestation of Iran's desire to be less dependent on a US-dominated dollar-world.
Don't Blame OPEC; Higher Gas Prices Are Almost Entirely Bush's Fault (tags)
What is making oil so expensive is not energy policy or even SUV’s, dangerous as those are for the environment. It’s Bush’s massive deficits and his willful destruction of the US dollar that has gas selling at $2.30 a gallon and rising.
With multiple crises—war, budget deficits and a collapsing dollar—on the horizon, the holier-than-thou Bush administration in the second term is likely to find itself facing a disaster of biblical proportions.
US Dollar Heading for Collapse: Robert Reich (tags)
In painting a bleak outlook for the US economy, Reich suggested the worst is yet to come, especially if President George W. Bush and the Republican party's agenda of tax less and spend more is re-elected in Nov