The US Dollar: The Long Farewell?

By Gwynne Dyer

As the U.S. dollar fell in value, the price of oil (which is usually calculated in dollars) rose to compensate for it, but there was no comparable adjustment for foreign central banks that had huge amounts of U.S. dollars in their reserves. China, which was sitting on about a trillion U.S. dollars, simply lost several hundred billion as the currency's value fell. So various central banks started wondering if they should diversify their reserves, and some acted on it.

http://www.informationclearinghouse.info/article18937.htm



Latin America Breaks Free Of The US

By Janette Habel

The US has lost ground in Latin America over the past decade, since the project to develop the Free Trade Area of the Americas flopped and since leftwing governments took power and used it with imagination and vigour. The US continues to try to block such emancipation by promoting more free trade agreements, and increasing military cooperation in the name of the war on terrorism and narcotics and the defence of market democracy.

http://www.informationclearinghouse.info/article18938.htm



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