Hmmm, a superpower caught up in a war that should have never been - resulting in a quagmire, their economy tanking as a result, their currency falling off a cliff because of massive debt which eventually resulted in national bankruptcy. Sound familiar? It was the fall of the Soviet Union after their war with Afghanastan.

Once the Russian ruble began to fall other nations jumped on board and every broker in the world sold the ruble short eventually driving it into the ground.

Good job bushie - we will soon be a third world nation.

If not devaluing dollar, how else Repub would eliminate middle class in America? We will be a class society - haves, and have nots, and everybody is armed to their teeth.

Everywhere you look, we are in TRILLIONS of dollars in holes, and they continue to get deeper.

Actually, it is so easy to rip off the public domain now, that every two-bit buerocrat is on take, and there is no end in sight.

Explain if you can - how on the earth Citi and other major banks can not even account for how much exposure they have to subprime, which THEY created? Nobody at Citi heard of computers?

Saudis say Bush Dollar (.50 cents) is so weak that it is too dangerous to talk about it.
iAP) - "The accidental airing of a closed OPEC session Friday provided a surprise glimpse into a sensitive debate over the weakening U.S. dollar, with Saudi Arabia's foreign minister warning that even talking publicly about the currency's decline could further hurt its value."

This is just the beginning. It's going to get worse, probably much worse. Osama is said to be trying to bankrupt the U.S. Most people have laughed at that, or perhaps just snickered.

But Osama had the number of the only person who could be baited into helping him do exactly that: George Bush. Bush has borrowed so heavily from other nations that the hidden costs associated with debt are devaluing the dollar exponentially. The result: Osama 2, Bush 0.

To help illustrate how weak the dollar is, I would like to spend a week or so in London a week after Thanksgiving. That's the slowest travel season of the year and prices are usually very low. But instead of $400 something round trip, booking directly through British Air is close to $2,000 dollars. I have not yet asked my travel agent to look into discount options, but there may not be much out there that is even close to the rates of the past 5 to 10 years.

Bush strikes again... as an Osama bin Laden peon.

This was just sound financial advice for everyone,even Americans.I knew there was a reason Dubai was looking so attractive.

Last month, in a humiliating turn of events, the central bank in Iraq, four years after the United States invaded, stated that it wished to diversify reserves from a reliance on dollars.

Korea's central bank has urged shipbuilders to issue invoices in the local currency and take precautions against the weakened dollar, and three of the world's big oil exporters, Iran, Venezuela, and Russia, are demanding payment in euros rather than dollars. Iran insisted that Japan should make all its payments for oil in yen, rather than dollars.

Warren Buffet, who is reputedly the richest man in the world, was asked on the US network CNBC last month what he thought was the best currency in the world to own now. He answered: "Not the US dollar."

http://news.independent.co.uk/world/americas/article3169638.ece

This is economic warfare.

The low dollar and high euro combine to hurt the Chinese whose currency was pegged to the dollar until recently. The Chinese are being forced into "making the playing field even" by revaluing their currency. Now what happens with a stronger Yuan? Well all of the foreign investors that invested in China get an instant boost in their Chinese holdings. So companies like Merrill, Citigroup, Goldmans, and the usual list of fascist financial mega companies benefit greatly from a revalued Yuan. In your glee and gloating about the falling dollar and the call for individuals to divest their dollar holdings by the Chinese government, you have overlooked who is benefiting the most from this manipulation of currency exchanges. While the posters on this page are predicting a financial meltdown and a destroyed American economy, the money guys in NYC are getting ready to once again make money hand over fist by exploiting a foreign country. You guys just don't get it.

Saudi minister warns of dollar collapse
The dollar could collapse if Opec officially admits considering changing the pricing of oil into alternative currencies such as the euro, the Saudi Arabian foreign minister has warned.

In an embarrassing blunder at the meeting in Riyadh, ministers' microphones were not cut off during a key closed meeting, and Prince Al-Faisal was heard saying: "My feeling is that the mere mention that the Opec countries are studying the issue of the dollar is itself going to have an impact that endangers the interests of the countries. "There will be journalists who will seize on this point and we don't want the dollar to collapse instead of doing something good for Opec."

Dollars no good for the Taj Mahal
Foreign tourists to many of India's most famous landmarks will no longer be able to pay the entrance fee in dollars, the government says.

Bush makes the Chinese look like amateurs when it comes to dumping dollars. See pallets of greenbacks disappear daily in Baghdad, 9 billion a month.
Bush Dollar (.50 cents) and falling.

I posted this 2 years ago, when the Shia majority first elected Shiites to positions of power in Iraq and for the most part, it still holds true today!


Yes, borrowing money from a communist county inorder to provide larger supply of oil for international companies, such as ExonMobile makes perfect economic sense!

The fact that the war in Iraq has given Iran greater influence over who will get that oil, such as their trading partners China and Russia, also show some forward thinking on the part of the Bush administration!

In fact it's a WIN, WIN situation for China! Use our troops to increase their share of the world's oil and gain some influence on our country through the debt they hold!

A lot of people are pretty sure the fall of the dollar was started by by Bush, the Feds and our wonderful capitalist who in their wisdom decided to run the dollar down some to make US goods more appealing to the rest of the world. But when you have idiot child playing Napoleon with the US Military in the Middle East, borrowing like it never has to be paid back, what do you expect to happen? I mean come on, Bush is the nations first MBA president. You do remember how the neo cons and Republicans were so proud of this fact after he took over the white house in 2000. Wonder what they say about him being an MBA now?

Wow!
30 posts so far, and no negative comments about China. Maybe enough people haven't logged in yet, or just maybe the true reality is setting in.
America is being sold out to war and China is reaping the benefits.

Regardless of what Chinese media may say to Chinese people, it is abundantly obvious that the Dollar's status as the world's reserve currency is about to end.

And when that happens, heaven knows how much oil will cost Americans.

Dumping the Bush Dollar (.50 cents) has become a world sport.

Ron Paul is worth his weight in Gold.

I wonder when China will call on our debts?

When are we going to smarten up? We need to take away the vote from the US worker. It only maintains inflation, and generates a weak dollar.

China started ditching the dollar over a year ago. The Chinese Government had been buying billions of dollars in US dollars for the past couple years to keep the dollar up, and thus the yaun deflated. A little over a year ago they started dumping dollars for a couple reasons. One is that the US dollar is just a piss poor investment. period. The other reason is that they are showing the control they have over the US government now. Ever wonder why nothing ever happens when the Chinese pull something that the US doesnt like?? Its the power China has over us now. You figure with the amount that Bush has borrowed from the Chinese to fund his war and tax breaks for the rich, along with the multi billions of dollars China has bought of US dollars, and they have us by the balls. Its much more effective than nukes, thats for damn sure. And the Chinese are not worried about losing any US markets. They have been making contracts and deals with just about every country on earth. To lose the US market, if possible as we are to greedy to let them go, but even so, it would only cause a slight hiccup to China. They learned from the cold war, economic warfare is much more effective than military. They could easily bring down the US just like Russia fell. And the Chinese are more driven by power and control than by wealth. Although they do like their wealth too, just not as much as revenge.

You people are so stupid it's incredible. This is a signal that the Chinese government is getting ready to revalue the Yuan.

The end of Pax Americana.The dollar is losing its global reserve currency status. Apparently,the Euro has or is in the process of eclipsing the dollar in this regard.Counties will be getting rid of dollars for stronger currencies, especially the Euro.

I think China will start investing in the Euro.
And gold, if they don't already. Bernanke and Bush have been on a money-printing binge, and China's pushing into Africa and South America, too. Cat sandwich? LOL

Also, billu, it's not the 'libs' that want
that kind of stuff, it's actually the conservatives, but you can be excused for not
being able to tell them apart anymore. They
both play both sides of the fence where they
think it'll get em an extra 5 bucks, the
two labels are basically interchangeable.
Nonetheless, China's on the march. They can
make stuff. Now that they've made stuff for
the US for 20-30 years, now they can make
anything. Anything. This'll be interesting...

The last time some Chinese official had something negative to say about the US dollar, it dropped to US$1.10 = Can$1. Today the $Can is only worth US1.02. So, the Chinese are not necessarily any better at predicting foreign exchange rates on a day to day basis than the rest of us. Of course, I wouldn't believe Treasury Secretary Paulson either when he says that the US supports a strong dollar. The US administration supports a Federal marriage amendment not a strong dollar.

Sounds like good advice . . . so much for the neo-con economic strategy

Don't see why the libs whine over a weak dollar. Oil is more expensive so less is used. Trade deficit is lowered. Exports increase imports decrease. Foreigh tourism is increased. This means more manufacturing jobs in the US, more service jobs in the US and less outsourcing. And it's all without being inflationary. Are these not things that libs want?