[tabs]

Good point about the $ being the currency used in oil transactions...thats just another reason beyond WMD's...the USA by going into Iraq was protecting it's national interest...

The use of currency is an abstraction. There is not enough currency floating in the world to pay off all the transactions made, nor the bank and brokerage accounts out there. The issue then becomes one of liquidity, the ability of the financial system to pay off on demand all the liquid assets out there. Thus if the bank runs out of money to pay off it's depositers then what value does that bank book have with all those $$$$ in it if you can't get them out.


Also U have to realize that any incoming President inherits the first 2 years of the economy from the previous administration...it takes that long for things in the pipeline to manifest itself. So it is grossly unfair to blame Bush the younger for the problems he inherited from Clinton.