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To: Mike M2 who wrote (108208)6/12/2001 8:45:18 AM
From: KyrosL  Read Replies (1) | Respond to of 436258
 
I agree with what you say Mike. And I think that Europe and Asia were (and still are) getting a great bargain on balance. There is a big difference between a policeman and a Mafia extortionist.



To: Mike M2 who wrote (108208)6/12/2001 9:33:45 AM
From: Crimson Ghost  Respond to of 436258
 
The world has changed radically since Bretton Woods and the collapse of the Soviet Union in 1991. Now that the Soviet Union is gone, the rest of the world will not much longer support US living standards at an artificially high level. The demise of the current international monetary system is just a matter of time.

The huge and never ending US balance of payments deficit is beginning to remind me of the tribute exacted by the Roman Emipre on their colonies.


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