Consider what supports the value of the dollar--oil. Agreements to buy and sell oil in American dollars has maintained the dominance of this currency. Now, the value of oil is eroding fast. American refineries step up capacity. Pipelines funnel oil to refineries for countries still dependent. Decreased investment in oil and oil infrastructure globally. (Think bombing Iraq's refineries.) Refining capacity increases in value relative to oil production. Capitalists liquidate and convert assets in dollars to other forms of wealth, thus, the current accelerated rape of American economy.


gumball's picture
gumball 21 weeks 7 hours ago

No, the value of the Dollar is from the size and stability of the US economy. That is why oil is priced in it, not the other way around.

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