Dollar’s fall collapses the empire

CounterPunch
by Paul Craig Roberts

11/07/07

The macho super patriots who support the Bush regime still haven’t caught on that US superpower status rests on the dollar being the reserve currency, not on a military unable to occupy Baghdad. If the dollar were not the world currency, the US would have to earn enough foreign currencies to pay for its 737 oversees bases, an impossibility considering America’s $800 billion trade deficit. When the dollar ceases to be the reserve currency, foreigners will cease to finance the US trade and budget deficits, and the American Empire along with its wars will disappear overnight...

http://www.counterpunch.org/roberts11072007.html


Informant: Thomas L. Knapp



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