[FoRK] Re: [silk] The Demise Of The Dollar
<eugen at leitl.org> on
Mon Jun 4 00:21:13 PDT 2007
----- Forwarded message from Udhay Shankar N <udhay at pobox.com> -----
From: Udhay Shankar N <udhay at pobox.com>
Date: Mon, 04 Jun 2007 12:29:56 +0530
To: silklist at lists.hserus.net
Subject: Re: [silk] The Demise Of The Dollar
X-Mailer: QUALCOMM Windows Eudora Version 126.96.36.199
Reply-To: silklist at lists.hserus.net
Udhay Shankar N wrote: [ on 12:17 PM 11/25/2004 ]
>The dollar's demise
>Nov 23rd 2004
>From The Economist Global Agenda
>Is the dollar's role as the world's reserve currency drawing to a close?
Another data point:
The U.S. dollar took a big hit last week. From Kuwait. On May 20,
Kuwait stopped pegging its currency, the dinar, to the U.S. dollar.
You know your currency has become a 98-pound weakling when Kuwait can
kick sand on it.
Even worse, Kuwait wasn't acting out of any animus toward the United
States. The tiny kingdom wedged between Iraq and Saudi Arabia remains
a U.S. ally. So the country wasn't trying to make any political
point. It had simply become too expensive for Kuwait to keep the
dinar linked to the dollar. I expect other countries, not tomorrow
but soon, to take the same action. And that will be just one more
milestone in the decline of the dollar.
((Udhay Shankar N)) ((udhay @ pobox.com)) ((www.digeratus.com))
----- End forwarded message -----
Eugen* Leitl <a href="http://leitl.org">leitl</a> http://leitl.org
ICBM: 48.07100, 11.36820 http://www.ativel.com http://postbiota.org
8B29F6BE: 099D 78BA 2FD3 B014 B08A 7779 75B0 2443 8B29 F6BE
More information about the FoRK