The US Dollar On Reprieve

Until now, official statements on this issue seemed to belong to the realm of psychological warfare between rival powers. As such, they were subject to question. But suddenly, on March 28th, 2006, the Asian Development Bank (ADB) chose to put its credibility at stake among its members by issuing a memo advising them to be ready for a collapse of the dollar. In the same note, the ADB specifies that there is a certain degree of uncertainty as to whether this might happen or not, but that the immediate consequences would be severe if it were to happen [1]. The ADB is already in the process of working on the creation of a regional alternative to the dollar - the ACU, a basket of currencies modelled on the principles of the European ECU. The ADB was founded as an institution by sixty-four national states. Contrary to what its name might otherwise suggest, its member states are not only countries from Asia and the Pacific Rim, but also countries from the South Sea Islands, North America and Europe (including France, Belgium and Switzerland). It is controlled in equal parts by Japan and the USA, owning 15% each. This makes the ADB's warning of an impending monetary turmoil all the more significant. The ADB warning of a pending monetary turmoil will undoubtedly bring about a hastening of all this large-scale scheming. Independent of the oil trade's reasoning with regard to the possibilities of reinvesting petrodollars, the banking sector is also concerned with the real value of today's dollar. _______________________________________________ http://www.voltairenet.org/article138048.html

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