syruppy

When the Rest of the World Stops Hoarding US Dollars

This is the new world-wide "silver-standard" with the oil-rich but otherwise poor nations of the world as the new monopolists, leading of course to a necessary realignment--either for good or for now (who knows)--of all of the basic factors of production, labor, energy, capital, etc. Ask not when the dollar will strengthen; ask when the cost of oil will fall due to increased production or increased investment in nuclear power.