

Dandelion Salad
By Mike Whitney
Information Clearing House
October 19, 2009
The dollar is not going to crash. There may be grumblings in foreign capitals and “secret meetings” between finance ministers but, for now, the dollar appears to be safe.
Foreign countries don’t trade in dollars because they like America. They do it because they have no choice. If they want oil, they need dollars; it’s as simple as that.
It’s great to talk about a “basket of currencies” replacing the dollar, but that’s still a work-in-progress. It might happen, or it might not; no one really knows. What’s clear, is that we still live in dollar-centric world where paper claims on wealth are arbitrarily increased at will by a handful of unelected officials at the Federal Reserve. It’s a process which relies more on Gutenberg than moral authority.
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