Yes! A dollar based international financial system is inadequate, but it was America that saw and forced the Euro rise in value from well under a dollar to well over a dollar where it now stands, possibly as much as 60 percent decline on occasion. The financial institutions gambled away our children's future. It was America and Britain living well beyond their means that sucked in resources and acquired resources in an aggressive bid for world economic power by their largest financial firms.
A country that can't get it's act together on credit creation for wasteful development of it's property sector should not go around pointing it's finger at everyone else and say they are to blame. No, America, the buck stops with you. Your system is to blame for the present US and world crisis and more credit creation is not the solution. The American dollar printing press is not the answer.
http://online.wsj.com/article/SB10001424052702303738504575567431511483738.html?mod=djemTEW_h
The answer is more discipline for the US dollar within a new international currency system based on a new IMF SDR mechanism in which credit creation for me sake of economic and political warfare and dominance is not rewarded. Yes, American, you have been fighting a war and there is a bill because you have not been victorious. That may be a shame, but it does not mean that you can acquire the assets of other countries with impunity just because your banks and financial institutions and derived monster companies gamble with those dollars your economy has created and cannot sustain. The dollar is weak because it is being used maliciously.
Under such a new international system all countries would be required to exercise discipline and the industrial countries would not be able to spend their way, gamble, their way further and further into debt the way Gordon Brown and the administration of George Bush did.
Will ye no think kindly on those who would be your friends! May the sun shine with your thoughts, today, and happiness grow in your heart! May you allow yourself some peace of mind.
