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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?"

We'll find out after the Iranian oil bourse opens. Or maybe before.

By the way, if you like coffee it is past time to stock up. Almost all imports come/came through the port of New Orleans. No new deliveries for the foreseeable future.

This would also reverse the trade deficit for the US, as a devalued currency would make US-made products much more attractive in world Euro-based markets.

This is one of the few parts of the article I disagree with. Nearly all our manufacturing base has been exported to Asia. I looked at a box of nails the other day while mending something. "Made in China." My son's bike: "Made in China." Shower curtain: "Made in China." Motherboard: "Made in China." etc. We don't make anything to export. Wedding planners? Personal trainers? Karate instructors? I don't think so. When the dolllar falls all our base are belong to the exporters. Cause we don't make it here anymore.

Interested to see what nonsense follows.