[MD] It May Already Be Too Late

[Arlo J. Bensinger]

Interesting article, thanks for passing it on.

There has also been growing recognition that the "crisis" with Iran may be
fueled (pardon the pun) by more than is being reported by the mainstream,
right-wing news.

I quote the Canadian journalist William Thomas, "As economist Hazel Henderson
notes, this makes sound economic sense since the dollar is weakening and “most
of the organization’s customers are in Europe anyway.” If OPEC decides to
accept only euros for its oil, “American economic dominance would be over.”

Switching oil payments away from the diving dollar would be a wipeout for the
USA, Nunan observes:

Not only would they lose a large part of their annual subsidy of effectively
free goods and services, but countries switching to euro reserves from dollar
reserves would bring down the value of the US currency. Imports would start to
cost Americans a lot more and as increasing numbers of those holding dollars
began to spend them, the US would have to start paying its debts by supplying
in goods and services to foreign countries, thus reducing American living
standards."

(http://www.willthomas.net/Convergence/Weekly/US_Dollar.htm)

Just something to keep in mind.

Arlo