Dollar being dumped for Euro
I made a previous post about this occurence and here is the latest. The New York Times reports that the dollar's skidding value is causing more countries to do so, but that there is no immediate threat to the dollar. Anyway, the writing is on the wall and that is unless the US can get itself and its spending policies back in order, the long-term view is the dollar will become a second-tier player behind the Euro, and conceivably, very long term, the Yuan. The United Arab Emirates joins Russia, Switzerland, Venezuela and others in doing so. China looks like it may pull back and Iran perfers payment for oil to be in Euros.
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