[sprocket]

Correct me if I'm wrong but the only non-fiat currency of note is the Swiss franc, meaning the euro, sterling and yen are no better off than the US dollar! The major difference of course is that over 70% of global trade is still carried out in US dollars, (if memory serves, this has continued to fall over the years, mostly in favour of the euro, which now accounts for about 27%, versus the USD's 72%) which means that every nation on earth is compelled to hold USD accounts and pay off their USD debts (ie. the bulk of their trade) in US dollars - any USD shortfalls having to be bought from the National Reserve, who can and does print as much as required, out of thin air, which at most will cost them the price of the paper & ink!!! Anyone else see anything wrong with this picture???

btw, while this may appear that 'America' has an unbelieveably unfair trading advantage (legal counterfeiting!) this is not the case - the only ones benefiting here is the National Reserve, a group of world banks who view America as nothing more than another trading partner! They lend as much of this worthless currency as the corrupt US governmant wants, demanding high rates of interest in return - which you guessed it, is left to the American tax-payer to pay...

Finally, do people realise that the already gigantic US national debt of over $9.5 trillion was instantaneously, at the stroke of a pen, increased by 12% when the US government agreed to baleout fanne mae/freddy mac to the tune of $800 billion? What happened to the free market and survival of the fittest?

The fiat-currency model does not work - period! Alan Greenspan admitted as much at one time, but suggested it was the most palatable option - maintain the air of normalacy for as long as possible, right up until the whole system implodes! Afterall, no-one of 'importance' gets hurt, just the tax-payers...