Robert Fisk on Demise of the DollarQuicklink submitted by Josh Mitteldorf Permalink
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|Since 1980, the ability of the US to spend more than we produce has been supported by printing more money. The US has been able to do this without causing hyperinflation because expanding international trade soaks up more and more dollars each year. Now the hegemony of the dollar is threatened by China, Brazil, Russia and OPEC, who have come together secretly, planning to replace the dollar as the world's medium of exchange.|
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