the last oil dollar


Erik Kain

Erik writes about video games at Forbes and politics at Mother Jones. He's the contributor of The League though he hasn't written much here lately. He can be found occasionally composing 140 character cultural analysis on Twitter.

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5 Responses

  1. Avatar Nob Akimoto says:

    I think “that’s all folks” is probably more accurate a headline…

    Seems like China’s getting ready to dump its foreign currency reserves, and this is the first step.Report

  2. Avatar Cascadian says:

    Turn the lights out, the parties over. Maybe the CAD will finally reach its value.Report

  3. Avatar Katherine says:

    Not sure whether it will actually get anywhere – the article also mentioned the Gulf States trying to set up some new currency like the Euro which would be one of the ones in the “currency basket” replacing the USD, and it takes a lot of time and negotiation to set up a unified currency like that if the Euro’s any example.Report

  4. Avatar Ben says:

    Is there any question that this will eventually happen, though? It shouldn’t be a shock. I’m not very well educated about economics, so I wonder: what sort of preparation should the US be doing for when this will happen?Report

  5. Avatar North says:

    Well if China starts dumping their US dollar reserve expect the trade deficit to decrease a lot.

    Obviously this is due to the weakened financial state of the US from the last eight years of Democratic fiscal madness… wait…
    Can we finally put the last shovel full of dirt on the myth of the Republicans being the party of fiscal responsability?Report