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Thursday, February 09, 2012

Dollar: Going, Going ...

The dollar has been the world reserve currency since 1944 and the Keynesian Fabian socialist economic palaver in New Hampshire's White Mountains. They all should have paid more attention to Lord Keynes.

The situation is now gradually getting desperate, which is proven by America's attempt to isolate Iran financially. An effort by Hillary Clinton to choke Iran's economy by financial blackmail has failed miserably. Iran has concluded trade agreements with India to deal in gold, with Russia to deal in rubles and with China to deal in yuan. Those three, by the way, are Iran's largest by volume trading partners. Other nations that are avoiding the dollar are Venezuela, Cuba and any number of additional South American states.

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