[Kickinthegob]

$this->bbcode_second_pass_quote('Jellric', 'I') still have some hope that we can salvage something of what Bush has wrought. I think the next Presidential election will see the rise of a major third party candidate. I don't know who it will be, but the door is wide open.

[Jellric]

$this->bbcode_second_pass_quote('', 'I') would be more concerned about just how far that door has shut my friend!

[DesertBear2]

$this->bbcode_second_pass_quote('lutherquick', 'J')ellric,

I think few want America to crash... But most want America to be responsible. And maybe a good crash is needed... and I'll bet the word will be just fine after that...

[aldente]

$this->bbcode_second_pass_quote('lutherquick', 'H')ow long do we skin the cats and feed the skins to the young cats? How long can this perpetual motion go on? One day, America needs to join the world community and give as much as she takes, and dollars ain't what I'm talking about...

[Kingcoal]

Maybe Lutherquick should team up with Buffet and Soros to start a huge new trading floor for oil. This trading floor would accept any currency and would use gold as it's benchmark.

Would that end "dollar hegemony?" If trading became essentially denominated in gold, the price of that metal would fly through the roof. Most currencies these days have no precious metal backing and there would be a mad scramble to acquire gold to stash away so that each oil customer can open a "gold window" similar to the one the US used to operate. The way to maintain the value of your currency against gold is to redeem your currency for gold.

Is that a good system? In theory, yes; governments would no longer be able to borrow against future generations by just printing more paper. However, a huge ball and chain would be thrown on the leg of the world economy. Gold would become insanely valuable. Right now, gold is used for jewelry, electronics, etc, and remains somewhat reasonably priced. It's been so long since currencies have been gold backed, that some sort of "reverse split" would need to happen and that would destroy the dollar for one. The money supply would be severely curtailed. Oil rich nations would accumulate gold and the only way to get that gold back would be to sell products to the oil rich nations. Poor nations would not only continue to be poor, but would find it impossible to get loans of any kind.

To me, it looks as though we are stuck with paper backed financial markets. The world might decide to switch to the Euro, but that would require a lot of the same kind of support that the dollar does. By support, I mean military policing of the world, massive currency inflation, etc, all of which Europe is definitely not prepared to do.

In my opinion, dollar hegemony exists not only because the US wants it to, but because no one else in the world wants the job that goes along with it!

[threadbear]

$this->bbcode_second_pass_quote('Jellric', 'A')s the sole remaining superpower America is in for its share of rhubarbs.

She is not alone, however.

I hate to ruin your party, but I would like to remind you revelers that ALL of Western Civilization is in the same boat, indeed all of Civilization period.

So you may very well laugh. You may indeed.

But you won't be laughing for long..

Because folks, you will be right behind us.
May I remind you that YOU cooperated in creating the mess we find ourselves in. YOUR economies are also highly dependent upon oil.

You are no saints.

It may provide temporary comfort to scapegoat one country to absolve yourselves of blame, but you will suffer right alongside us.

We are all in this together, like it or not.

[MacG]

$this->bbcode_second_pass_quote('threadbear', ' ')We're going to be right behind you? We're already way way ahead of you. Feel that breeze? That's a billion people blowing past you on bicycles, Fat Ass.

[frankthetank]

A dollar collapse would most likely lead to more war, or so i think

[sol]

$this->bbcode_second_pass_quote('', 'P')starr,

Well, I forgot, between steroids, and antibiotics, maybe the reason Americans need an SUV to hual around thier fat azzes... Fork lifts and semis might help as well...

[rogerhb]

$this->bbcode_second_pass_quote('frankthetank', 'A') dollar collapse would most likely lead to more war, or so i think