Originally Posted by greazzer

Actually, the world has started the slow, but sure process of not accepting the US Dollar. Our buddy Saddam Hussien stopped accepting US dollars for his country's oil and looked what happened. Iran has stopped accepting US dollars for its country's oil and look what is happening. Look at Libyia, too. There are other countries out there following the trend. Keep in mind that if Russia, for example, wanted to buy oil and it was going to be using the world's reserve currency, it would have to have US dollars for the transaction. Now, not necessary. So, that means in the big pictures that there are more US dollars out there in a sense since they are not needed for global transactions. Right now, the US is printing dollars like crazy. The US Dollar was around 70% of the world's reserve currency preceeding B.O. Now, we are getting pretty close to dipping below 60%. And, our bond rating was down graded about 2 years ago. The long list of economic predictors are out there. Depending on your political leanings, folks will blame B.O. Those who love B.O., blame Bush. In reality, if you start looking at the predictors and events, a vast majority have in fact occured during B.O.'s tenure. That then leads the discourse to the it's still Bush's fault since B.O. is doing this or that to correct Bush's errors. In reality, that is pretty much nonsense. The social agenda of redistributing wealth and buying one's way out of a global recession is disasterious. The reality is that gifts and entitlements buy votes. Always have, always will. Maybe that is why there was the campaign promises by B.O. to cut the deficit / debt by 50%. Instead, he doubled it. The list of broken campaign promises goes on and on. Look at England, the global superpower of all time. It started down a quasi-socialist agenda, e.g., free health care, and wealth redistribution, and spending themselves out of a recession and look at them now. They boast less than 5% of the world's reserve currency via the pound sterling. What it really means is when the dollar loses its king title: we can no longer just print and print dollars to buy ourselves out a problem. If we do, look out Mr. Inflation ... We've been hiding him in a closet right now. So, whoever writes the history books and assuming they take a stark, objective view will not treat B.O. with that much reverence ... rather, some really far right leaning cooks claim his real agenda is the tearing apart of the U.S. and what a better way to do it than destroy the US dollar and through the democratic process of 51% of the voting public who honestly thinks that more debt is better, more social programs are better, and the list goes on. None of this will occur in the next 3 years, but the next dope in office will get blamed. Hope it's Hillary.