Sunday, September 27, 2009

Destruction Of The Dollar

I've cited some articles in the past belaying the fact that the huge deficits being run up by the Democrats is causing the countries of the world to take a second look at the reserve currency they use for world trade. The deficits create a lack of faith in the U.S. dollar and the fear of hyper inflation that will devalue the dollars value as it relates to other currencies. World Bank President Robert Zoellick said the United States should not take the dollar's status as the world's key reserve currency for granted because other options are emerging.

In excerpts released on Sunday from a speech that he is to deliver on Monday, Zoellick said global economic forces were shifting and it was time now to prepare for the fact that growth will come from multiple sources.

The Democrats with their Trillion Dollar deficits are doing irreversible damage to our place in the world economy. World Bank says don't take dollar's place for granted

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