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When Israeli Prime Minister Ehud Olmert unleashed his navy and air force on Lebanon, accusing that tiny nation of an "act of war," the last pillar of Bush's Middle East policy collapsed. First came capitulation on the Bush Doctrine, as Pyongyang and Tehran defied Bush's dictum: The world's worst regimes will not be allowed to acquire the world's worst weapons. Then came suspension of the democracy crusade as Islamic militants exploited free elections to advance to power and office in Egypt, Lebanon, Gaza, the West Bank, Iraq and Iran. Now, Israel's rampage against a defenseless Lebanon – smashing airport runways,...

Can Iraq's Policy Affect the US$ and Euro? Iraq decided to no longer accept dollars for oil... what do you think will be the effect on the greenback and on the Euro?" The burning question in cyber-space today is "Will this policy be limited to just Iraq?" In my opinion, we will see the dollar having to bid for Euro's instead of oil directly. That will reverse the current Euro-Dollar relationship. It will create a high demand for Euro's causing a higher Euro valuation; the dollar will significantly devalue against the Euro by 30% or more. Also, since the Euro...