dkumar
April 5th, 2003, 04:35 PM
In the last 50 years the US dollar is the main currency in the world. If anybody wants to buy anything for $50 million or more, they must "work" for those money.
But if USA wants that money they need just to print those bills. That is what USA did in the last 50 years. They flooded the world with USD without having any gold coverage in the bank. American terms of trades have a huge budgetary deficit, which is about $2.5 trillions,
and it is anticipated to grow in the next years. As per Bush budget plan the budgetary
deficit will be $3.5 trillions in next 3 years that is 50% of the GDP.
This is just the beginning of the problem because Iraq is the first country from OPEC who stopped selling oil for USD and starts to sell oil for EURO.
On November 6th 2002 when 1EURO=0.8USD Iraq lost lots of money because they made this change. The investment was worth. Meanwhile EURO grew bigger than USD so as a result Iraq gains money. This was the big mistake that Iraq did and America will never forgive that.
Then two OPEC countries (Iran and Syria) wanted to switch to EURO for the oil they sell. At the end all OPEC countries will switch to EURO. Including Venezuela who produces 7% of world oil, already sells part of the oil for EURO. So there is a shortage of EURO and a surplus of USD on the international market. That's the reason theUSD is falling and EURO in rising. This is the worst nightmare for American economy.
If EURO become the world currency, USD value will go down seriously. America won't be able to put printed USD on the market as they like, without gold coverage in the bank. Most countries will give away the USD and get EURO to buy oil from OPEC.
The biggest investors will move from America to Europe. Living on debts and printed money will vanish. Already the USD is artificially kept by US political tricks with China, North Korea, Taiwan and Japan.
These countries produce almost every product that USA needs. America is lending money to these countries. This way those countries can produce what is going to be sold back to America. The profits are going back to America to pay the debts.
Bankers and economists have estimated long time ago that if Asia continues to support American dollar using such political tricks then American economy will go down badly.
Asia will change to EURO because of the necessity of oil, which is coming from OPEC countries. So all countries which changed USD with EURO. They will attack these countries
(Iraq, Syria, and Venezuela) and change the governments with new ones which do what
America says. This way America will try to force these countries to use the USD again. This is the reason why Great Britain has not changed to EURO. British are like fox - If USA will win, than they will keep their pound, if EU stops the war Britain will switch to EURO which they just delayed to see what's going to happen despite that they lose money at the moment. If USA won't start the war then it will lose the superpower title, against the EU. That is why France and Germany would like to fight
the whole battle. Iraq is just the beginning of the battle.
Whoever is going to win this war will last much longer.
But if USA wants that money they need just to print those bills. That is what USA did in the last 50 years. They flooded the world with USD without having any gold coverage in the bank. American terms of trades have a huge budgetary deficit, which is about $2.5 trillions,
and it is anticipated to grow in the next years. As per Bush budget plan the budgetary
deficit will be $3.5 trillions in next 3 years that is 50% of the GDP.
This is just the beginning of the problem because Iraq is the first country from OPEC who stopped selling oil for USD and starts to sell oil for EURO.
On November 6th 2002 when 1EURO=0.8USD Iraq lost lots of money because they made this change. The investment was worth. Meanwhile EURO grew bigger than USD so as a result Iraq gains money. This was the big mistake that Iraq did and America will never forgive that.
Then two OPEC countries (Iran and Syria) wanted to switch to EURO for the oil they sell. At the end all OPEC countries will switch to EURO. Including Venezuela who produces 7% of world oil, already sells part of the oil for EURO. So there is a shortage of EURO and a surplus of USD on the international market. That's the reason theUSD is falling and EURO in rising. This is the worst nightmare for American economy.
If EURO become the world currency, USD value will go down seriously. America won't be able to put printed USD on the market as they like, without gold coverage in the bank. Most countries will give away the USD and get EURO to buy oil from OPEC.
The biggest investors will move from America to Europe. Living on debts and printed money will vanish. Already the USD is artificially kept by US political tricks with China, North Korea, Taiwan and Japan.
These countries produce almost every product that USA needs. America is lending money to these countries. This way those countries can produce what is going to be sold back to America. The profits are going back to America to pay the debts.
Bankers and economists have estimated long time ago that if Asia continues to support American dollar using such political tricks then American economy will go down badly.
Asia will change to EURO because of the necessity of oil, which is coming from OPEC countries. So all countries which changed USD with EURO. They will attack these countries
(Iraq, Syria, and Venezuela) and change the governments with new ones which do what
America says. This way America will try to force these countries to use the USD again. This is the reason why Great Britain has not changed to EURO. British are like fox - If USA will win, than they will keep their pound, if EU stops the war Britain will switch to EURO which they just delayed to see what's going to happen despite that they lose money at the moment. If USA won't start the war then it will lose the superpower title, against the EU. That is why France and Germany would like to fight
the whole battle. Iraq is just the beginning of the battle.
Whoever is going to win this war will last much longer.