Economics-Crystal F.-Mr.K

Saturday, March 04, 2006

According to an article called, "The End of Dollar Hegemony, Part II", we are becoming less dependent on ourselves for goods which can in turn ruin our economy. We are using fiat currency to buy these goods (fiat currency is the printing of currency out of the air with no intrinsic value), but over time, because we borrow money from other countries, our dollar will be rejected. Without our dollar, it will in turn ruin our military, a main reason why we "rule" in the world.
Not only do we have a problem worrying about our fiat currency, but we also have a problem with Iran ruining our dollar as well. Iran has made the decision to start wanting euros for their oil instead of dollars. This could ultimately ruin our dollar. That is one reason why we want to go to war with Iran. Also, Iran already has problems with Denmark, which involves the cartoons that the Danish printed in their papers, making fun of the Muslim prophet Mohammed. However, there have been alleges that Iran is only using its anger as a diversion and even goin so far as to stop eating Danish pastries, to divert international pressure over its nuclear program. A nuclear issue which gives the US , but another reason to go to war with Iran.
But then there is the whole issue with Bush, who wants the United Arab Emirates taking control of our ports. The people who had ties with Al Quaeda when 9/11 happened. Bush said that we should not be afraid and the deal would not threaten US security. So at the same time we have reason to go to war with Iran, we are allowing these people who have had ties with terrorists, to control our borders.
So, we are going to war in order to keep the US hegemony, or in other words the "who ever has the gold makes the rules" thing, and at the same time doing this off the wall deal with the United Arab emirates, because he thinks they will be important allies in our war against terrorism.
Is this good or bad? I guess its up for you to decide.

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