'But what will end the world's addiction to that ye olde "Yankee Dollar".'
That i should like very much to know, and its timing as well .... likely the major factor will just be a dawning realisation that so very much of it has been printed, and that its value is based on nothing more than the ability of US government to tax its citizens, who chances are will not be eager to write a blank cheque to the world, certainly not as eager as they have been to cash the blank seigneurage cheques the world has been handing them
Another major factor - the GFY/me-first unilateral flavour out of Washington lately, rest of the world really doesn't have a strong affinity imho for a new Dictators 'R US
As for when, hard to say, but when the tide changes it should gain momentum, currency traders are known for riding hard long and far the trends they've identified .... and it'll happen eventually, nothing goes in a straight line forever
Very important factor in the assault on BC, gives the yellow pine lobby considerable ammunition, though they never admit it since to do so would be to admit that their prattling justifications are indeed bullshit .... also, remember that BC forestry pays much of its costs in USD equivalent - energy prices, equipment costs, etc ... all the major pieces of forestry machinery i have ever owned were made in Dubuque, Iowa ... my pickup was made in Kansas City, Missouri
You can imagine how eager we are at this point to send our next loonies south |
