I just wanted to draw your attention to this fascinating little article that Urszula sent me. Here's an excerpt:
There are meetings being held
Monday and Tuesday in Yekaterinburg, Russia, (formerly Sverdlovsk)
among Chinese President Hu Jintao, Russian President Dmitry Medvedev
and other top officials of the six-nation Shanghai Cooperation
Organization. The United States, which asked to attend, was denied
admittance. Watch what happens there carefully. The gathering is, in
the words of economist Michael Hudson, "the most important meeting of the 21st century so far."
It is the first formal step by our major
trading partners to replace the dollar as the world’s reserve currency.
If they succeed, the dollar will dramatically plummet in value, the
cost of imports, including oil, will skyrocket, interest rates will
climb and jobs will hemorrhage at a rate that will make the last few
months look like boom times. State and federal services will be reduced
or shut down for lack of funds. The United States will begin to
resemble the Weimar Republic or Zimbabwe. Obama, endowed by many with
the qualities of a savior, will suddenly look pitiful, inept and weak.
trading partners to replace the dollar as the world’s reserve currency.
If they succeed, the dollar will dramatically plummet in value, the
cost of imports, including oil, will skyrocket, interest rates will
climb and jobs will hemorrhage at a rate that will make the last few
months look like boom times. State and federal services will be reduced
or shut down for lack of funds. The United States will begin to
resemble the Weimar Republic or Zimbabwe. Obama, endowed by many with
the qualities of a savior, will suddenly look pitiful, inept and weak.
