Wednesday, February 06, 2008

The Dying Dollar Under Bush - Keep Borrowing, Retard

In January 2007, The New York Times pointed out that the dollar had continued to slide against the Euro and the British pound and that the United Arab Emirates were joining the Russians, the Swiss, Venezuela, and others in shifting its currency reserves away from the dollar.

Further evidence of the Bush dollar losing its glow as the coin of the realm: Iran is leading the Middle East oil producers away from the traditional pricing of oil in U.S. dollars; it now prefers Euros.

When Bush took office the Euro was worth about .90 cents. As of February 6, 2008, it's worth about $1.46.

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