Insomnia (insomnia) wrote,

Currency wars...

George Monbiot makes a very good argument for why the world should support the Euro, and paints a grim picture of what will happen to the US economy one day when the dollar is no longer the currency du jour. He also provides a good background for the economic advantages of invading Iraq.

This change away from the dollar is really about as close to an inevitability as one can imagine, due to world populations and the nature of economics. The only way to really combat it for the US is through proactive wars of aggression, allowing the US to peg foriegn currencies to the dollar... that, and through the expansion of NAFTA to the rest of the hemosphere/world.

I'm for neither, and it is for this reason that I support the UK moving to the Euro, and its adoption as the currency of choice for oil producing nations.

Irrational support for the dollar is one of those factors that is keeping the US from addressing its problems -- it is far easier politically to allow ourselves to go deeper into debt, so long as someone else (like our children, and their children...) is going to pay for it. If we are going to have a hangover after an economic bender, far better to suffer the fallout now rather than later after even more debt has been racked up.

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