+FreedomForceUSA there was an article in Bloomberg about shrinking US dollar reserves from petrodollar countries. My question is where does the spent money land up? Where does it go to? Say Saudi Arabia's February account has a $20 billion shrink on reserves...who gets that $20 billion?
WHY?...What does Barack gain by having even the suggestion of Iran becoming a nuclear power? My opinion is that it gives him leverage with the Saudis and to a lesser degree Israel. Saudi is to America what Ukraine is to Russia...the soft underbelly. America is the protector to the region for many years but why does America want to protect these guys (Saudi etc) is it because they have the same values? Or is it because the US is trying to protect something else? Hmmm...what could be so important that amidst chaos Opportunity is found.
Greg, I mentioned time and time again exactly what Fitts outlined. Debt in the currently financial system structure is irrelevant. It's only when the system as we know it changes in confidence and reserve status