Asia must prepare for dollar collapse

[tocqueville]

'Asia must prepare for dollar collapse'
Tuesday 28 March 2006 8:33 AM GMT

ADB: Possibility of a dollar collapse small but fallout huge

East Asian economies need to prepare for a possible collapse of the US dollar, the Asian Development Bank says.
AFP

The warning comes as the US trade deficit reaches a record high and global interest rates continue to rise.

Masahiro Kawai, the ADB's head of regional economic integration, said on Tuesday: "Any shock hitting the US economy or the global market may change investors' perceptions given the existing global current account imbalance.

"Our suggestion to Asian countries is: Don't take this continuous financing of the US current account deficit as given. If something happens then East Asian economies have to be prepared."

http://mparent7777.livejournal.com/7344527.html

[Oversea Visitor]

1. Yeah

S H I T ahead, bush you listening.

[pretzel4gore]

3. bush is depending on it....

the punk's life might well hinge on the chaos, the worse, the better for bush.

[Oversea Visitor]

6. Well it is a mad man dream

dont think it is the American people dream

Taking down US is simple
Just stop using US dollars for trade

Very easy for all to do
Dont need guns or bomb

World know that
Just dont want to do it cause it will be painful
But if mad bush go attacking Iran
Or no come to senses on the Iraq issue
And we keep hearing more Iraqies civilian getting kill
We going to go bonkers
And do it.

The talk of dropping US dollars being going on since the Iraq invasion
Now it is more than talk
Asian countries being shifting reserve into other currencies for a few years slowly.
Big move comes when we start asking for payment in other currencies dropping US dollars totally.

[Jeffersons Ghost]

5. bush could care less

his money is safly stashed in UAR

[Oversea Visitor]

8. You are right

The US people will hurt
But I dont bush and friends will

[ClintonTyree]

2. The "defeat" of the United States....

will not come militarily. It will be an economic war and the United States will lose. Horribly. The last 5 years of economic policy (or lack thereof) has left us extremely vulnerable to economic attack. Unless something is done soon, very soon, a few countries united with the common cause of bringing the American economy to it's knees is almost a sure bet. Especially if Bush continues on his current course of "punishing" Iran for deeds not yet done. That these countries are meeting to even discuss this should be an eye opening event for the Bush Administration, but of course their arrogance prevents that from happening. They view themselves a invulnerable, bullet-proof. They're dead wrong.

[Donkeykick]

4. In other words...

it is going to hurt us more then it will them. ;-)

[Jeffersons Ghost]

7. they are PERSONALLY bullet-proof and never cared about the US dollar

Republicans knew all of this when they put us $9 TRILLION in debt... that's a NINE followed by 12 zeros. The ultra-rich like bush have turned personal assets into things like stocks in International companies and gold. The silly looking paper you save won't even burn well enough to keep you warm next winter. K&R

[ClintonTyree]

10. My mistake.....

I keep forgetting that they don't really give a shit about anyone but themselves. If the country's economy went to hell they wouldn't care.....they've got theirs and everyone else it SOL.

[Jeffersons Ghost]

9. good post clinton

bye bye, Miss American Pie!