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Free minder
Join Date: Nov 2001
Location: Middlessex county, MA
Posts: 9,422
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Tabs,
You say the USA$$$ acts as the reserve currency for the world, after saying that it is backed by nothing. This could explain the world instability...
In reality, I see two things that back the dollar: 1) the work of the american people, who are constantly reimbursing the debt of the federal reserve. 2) The use of the dollar as the main currency for oil transactions. This is one of the reasons for the war in Iraq: the USA has a vested interest in preventing the use of the Euro in OPEC countries, which would cause the dollar to plunge.
As far as the effect of 9/11 on the financial system, it certainly did not improve things, but it is not the cause of the bad economy. Things started before that, remember the internet fiasco and ENRON. Actually, ask any republican who is responsible for the bad situation, and they will tell you Clinton, right ? I think excessive greed and irrational fear are the two causes of a bad economy.
Aurel
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1978 SC Targa, DC15 cams, 9.3:1 cr, backdated heat, sport exhaust https://1978sctarga.car.blog/
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2008 Benz C300 (wife’s)
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