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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Muthusamy SELVARAJU who wrote (28380)2/3/2003 11:27:36 AM
From: Raymond Duray  Read Replies (1) of 74559
 
Selva,

Re: The larger issue is that most of this mess is of the US' own making.

If the Bushista Junta continues its present course, it will destroy the dollar as the 'gold standard' of paper currencies.

Here's a snip from a longish article I'm reading that addresses the clear and present danger of Bush's brinksmanship:

indymedia.org

<COPY>
Even more alarming, and completely unreported in the U.S media, are some monetary shifts in the reserve funds of foreign governments away from the dollar with movements towards the euro (China, Venezuela, some OPEC producers and last week Russia flushed some of their dollars for euros) (9).
europartnership.com
It appears that the world community may lack faith in the Bush administration's economic policies, and along with OPEC, seems poised to respond with economic retribution if the U.S. government is regarded as an uncontrollable and dangerous superpower. The plausibility of abandoning the dollar standard for the euro is growing. An interesting U.K. article outlines the dynamics and the potential outcomes:

hazelhenderson.com

<END COPY>

More on Hazel Henderson to follow.....

I'm somewhat shocked at how small my world is. Henderson is syndicated across the globe in 400 publications and I've never even heard of her before today. What planet do we Americans live on? Certainly not the Earth, from all I can tell.

-Ray
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