This is presented as fictional but it is not fantasy in my opinion.
A number of oil producing countries have already stipulated they want to be
paid in Euros and not dollars.
So the reserve currency status of the dollar is being challenges.
The major dollar holding countries such as China and Japan along with some
of the oil kingdoms have every intention in defending the dollar.
And i think we know why. They are holding boat loads of bucks that they want
to dump.
Will this effect us pelicans on the street? It appears it already is. When
we go to the market for food or fuel or need anything that is a necessity
the buck is fast becoming worthless.
So if you have money in anything other than your plastic i would suggest you
consider parking it some distance from the science of the impending
accident.
In situation such as this the white middle class will not be buffered from
the storm. It's more likely we all will be thrown to the storm.
And if anyone knows something that counters this perspective and which makes
you feel secure about your near term economic future we would all appreciate
hearing it.
http://www.321energy.com/editorials/rigoni/rigoni010508.html
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