The reign of the American dollar is coming to an end.

[Os Cangaceiros]

The single most astonishing fact about foreign exchange is not the high volume of transactions, as incredible as that growth has been. Nor is it the volatility of currency rates, as wild as the markets are these days.
Instead, it's the extent to which the market remains dollar-centric.

Consider this: When a South Korean wine wholesaler wants to import Chilean cabernet, the Korean importer buys U.S. dollars, not pesos, with which to pay the Chilean exporter. Indeed, the dollar is virtually the exclusive vehicle for foreign-exchange transactions between Chile and Korea, despite the fact that less than 20% of the merchandise trade of both countries is with the U.S.


Chile and Korea are hardly an anomaly: Fully 85% of foreign-exchange transactions world-wide are trades of other currencies for dollars. What's more, what is true of foreign-exchange transactions is true of other international business. The Organization of Petroleum Exporting Countries sets the price of oil in dollars. The dollar is the currency of denomination of half of all international debt securities. More than 60% of the foreign reserves of central banks and governments are in dollars.

The greenback, in other words, is not just America's currency. It's the world's.

But as astonishing as that is, what may be even more astonishing is this: The dollar's reign is coming to an end.

etc.

Straight from the mouthpiece (http://online.wsj.com/article/SB10001424052748703313304576132170181013248.html) of American ruling class.

[ckaihatsu]

2. Means -- Global Syndicalist Currency




This is basically advocating a global syndicalist currency that would be worker-controlled, cut across national boundaries, retain full labor value, and provide a broad range of trans-national goods and services through regular distribution channels.

All labor provided towards supplying the currency would necessarily be revolutionary acts, and could take place on a variety of scales, in a mixture of patterns of participation, gradually growing in size as cities once did. Transparency of accounting and operations would provide ongoing credibility, with worker-controlled decision-making -- call it stochastic soviets, if you like...!




It would be far more preferable to build up the strength and reach of a global syndicalist currency, backed by full, unexpropriated labor value, and enjoying the credibility that comes with transparently published accounts. Given these qualities it should be easy to see how this currency {would} be absolutely incompatible, both economically and politically, with any existing, capitalist currencies.


tinyurl.com/49bezkk


tinyurl.com/concise-communism-model

[KC]

God you're weird.

[ckaihatsu]

God you're weird.


Jesus, it's not like I said I wanted my portrait to be on the currency notes or something like that...!

[MarxistMan]

another day in the hell of expensive utility bills, government taxing people to death to give those tax-dollars to the rich, to the bankers and the Military Industrial Complex.

More devaluation of the US dollar because the the Federal Reserve are printing fake dollars, because of the massive spending in the military and the imperialist wars

And all these things that Democ-rats and Republic-rats are doing literally means more poverty within US borders. And the US Soldiers coming home to roost in an economy and society of frustration, pessimism, depression, poverty and increased prices of the basic household services like electricity, phone, internet, direct-tv, dish network, gasoline, food and all goods and services that american families need to for their basic needs

American families should rebel against all these evil things being done by Democrats and Republicans and start to look toward a Socialist Workers Party, in the 2012 presidential elections

.

etc.

Straight from the mouthpiece (http://online.wsj.com/article/SB10001424052748703313304576132170181013248.html) of American ruling class.

[ckaihatsu]

---





More devaluation of the US dollar because the the Federal Reserve are printing fake dollars,





A second fiscal deadline is now looming shortly after the first, with the Treasury Department announcing Tuesday that it expects to reach its legal debt limit of $14.3 trillion by April 15. Passage of an increase in the federal debt ceiling is usually a routine matter, since the alternative would be an abrupt halt in federal borrowing, with incalculable consequences for global credit markets. But House Republicans have demanded additional budget cuts as the price of such a debt-ceiling hike.

Besides the impact on credit markets, hitting the debt ceiling would have a direct effect on corporate America, much more so than in 1995, during the confrontation between the Republican Congress and the Clinton White House. Since 1995, federal spending on contracting with private companies has mushroomed from under $10 billion to more than $535 billion, as both Democratic and Republican administrations have effectively privatized many federal functions. These companies could lay off hundreds of thousands of workers if their checks from the US Treasury stop.

According to a report by the Congressional Research Service, if the Treasury hits the debt ceiling, “The federal government would have to eliminate all spending on discretionary programs, cut nearly 70 percent of outlays for mandatory programs, increase revenue collection by nearly two-thirds or take some combination of those actions.”

http://wsws.org/articles/2011/mar2011/post-m03.shtml