Any individual or country that poses a credible risk of threatening the ‘World Reserve Currency’ status of the US Dollar had better make sure their life insurance premiums are paid up. That’s about the quickest way to get an Aircraft Carrier parked in the ocean nearest to their country. We can be sure the subject came up during 0-Tard’s latest travels abroad. Though he may despise our country in many ways, don’t think for a second that even 0bama doesn’t know where his real political/economic power comes from. With the debt we’re in and the deficits we run, if the oil producing countries abandoned the dollar for their transactions, we would be quickly brought to our knees. THAT’S the position our reckless leaders over the years have put us in.
There is a conspiracy theory that a reason Obama doesn’t want US to become totally independent on oil is that if we didn’t have to purchase oil from other countries, it would reduce the amount of dollars circulating and would cause less foreign debt purchases and inflation.
I don’t think he is that smart.
If the USA behaves aggressively in any way, let alone militarily attacks other countries because they don’t want to route their trade through a US controlled racket, almost the entire world will be united against us.
The anglo-media(US/UK) is badly misleading the America people about how much support our gov’t has in the “international community” and downplaying the massive resentment that most people in the world feel about decades of Fed Gov coercion, bullying and thuggery.
Most countries in the world would like to see the US taken down a notch and their governments only pretend to like our government because of all the coercion and bullying that happens behind the scenes.
We are not in a posistion to act the way our gov’t has been.
Debt does matter, despite what Paul Krugman or Dick Cheney want you to think.
I agree that this is the position we have been brought to by feckless leadership, but why should individual countries have to fear us if they decide not to use the USD?
That makes it sound like the USA is a mafia bully .... use our dollar or something bad might happen to you on the way home from the market.
I see no reason why the world’s countries SHOULD HAVE TO use our dollars if it doesn’t make economic sense for them to do so.
Should we be threatening other countries over this?
And you don`t think that could backfire into an absolute hatred for, and international move to dump the petrodollar? Especially if the Russo/Chinese alliance calls that bluff with their new carrier killer weapons?