BRICs Launch Assault on Dollar's Global Status

Chosun Ilbo ^ | 06/12/09

[Doe Eyes]

Well, I told folks so... here we are.

When I worried about the massive increases in the Federal Debt while Bush was President, and our increasing reliance on The Peoples Republic of China to provide financing, the response was "“If you owe the bank millions, then you have a problem. If you owe the bank trillions, then the bank has a problem.”

At least (with the election of a Democrat President) Freepers are concerned about our massive deficit spending and borrowing.

[Nuc1]

BIRC is launching an assault upon the Dollar? It seems to me that the congress took care of that long ago.

[Nuc1]

I will be shocked if it doesn’t happen and our current administration and congress will be dancing with glee. They are out to destroy us and this could do the job. Remember our government refuses to allow us to drill for additional oil, build additional refineries, burn more coal, build more nuclear, instead forcing us to “develop” useless solar and only slignhtly less useless wind power.

[Nuc1]

I will be shocked if it doesn’t and our current administration and congress will be dancing with glee. They are out to destroy us and this could do the job. Remember our goverment refuses to allow us to drill for additional oil, build additional refineries, burn more coal, build more nuclear, insteas forcing us to look at useless solar and only slignhtly less usless wind power.

[Diana in Wisconsin]

“...the foreign currency reserves of the BRICs countries amounts to $2.78 trillion.”

Ooooo! I’m so scared! $2.78 trillion in cash reserves? Like 0bama and Crew can’t spend that in, what, FIVE MONTHS? We’ll be out of this ‘little downturn’ in our 0bamaconomy any day now thanks to his spending! It’s for our own good, don’t ‘cha know...

*SARCASTIC SNORT*

[Diana in Wisconsin]

And I’m getting really, really tired of my gold and silver falling on Fridays now, versus the customary Mondays.

That leaves me NO ‘walkin’ around money’ for the weekends! ;)