Do you what the dollar is worth? In England, where they still use the pound currency, a dollar is worth about half of a pound. that means that a $400 i-phone is only about 225 pounds. In the rest of Europe where they use the Euro, the dollar is worth .7 euros. Even in Canada, the Canadian dollar, which gets its name from the American version is worth $.07 more than the dollar. What does this mean in a global economy? It means that All of Europe, Canada, and soon to be China & Japan are worth more as business entities than the United States.
Did you know that retailers in Manhattan are beginning to accept Euros as currency because it is worth more than a dollar. Soon could Americans live on Euros?Maybe. Lets study history.
First off since the beginning of time the type of currency preffered has always changed with the times. That means that history has already told us that the dollar is on its way out. Then what would that mean for american currency. Well chances are that the ego of americans wouldnt allow us to change national currency, but soon the global community will loose confidence in the dollar adopting other forms of currency like the euro, or maybe some new form. America would then be cast into the herd of other countries that refuse to give up on a currency that is worthless(franks, rubels, etc.). That would mean carrying large bags of money across sovergnties or standing in long exchange lines at the airport.
So I guess barrowing trillions from China that couldnt be payed back to fund a senseless war did have consequences.
beyond thousands of soldiers losing their lives, as well as Iraqi citizens.
