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Thread: Dollar "catastrophe" prompts call to replace Bush

  1. #1
    OrlandoMary Guest

    Dollar "catastrophe" prompts call to replace Bush

    Dollar "catastrophe" prompts call to replace George W Bush

    US unable to repay $7 trillion in loans, claim

    By: INQUIRER staff Thursday 31 March 2005, 09:15
    THE FORMER prime minister of Malaysia, Mahathir Mohamad, has launched into
    a swingeing attack on US president George W. Bush and warned that the
    global economy was heading for a catastrophe with the dollar in danger of
    imminent collapse.

    Mahathir claimed that the only reason the US dollar was keeping its value
    was because of a widespread fear of global meltdown if it collapsed.

    According to a report in today's Taipei Times, the only way to avert such
    a meltdown in the value of the US dollar was if the Americans replaced
    George W. Bush with a "more responsible president". Replacing US
    presidents isn't that simple, we suspect.

    The former prime minister suggested one answer to the impending doom was
    to switch from dollars to a gold standard for international trade.
    Companies should start demanding that payments be made in Euros, or that
    US dollar payments should be at the Euro rate.

    A dollar catastrophe was inevitable because the USA was unable to repay
    loans which Mahathir estimated amounted to $7 trillion. One US dollar is
    currently worth .77 of a Euro, and .53 UK pounds. Which is fine and dandy
    if you're a Brit that goes shopping for iPods in New York, but is
    crippling when you're an IT company that gets paid in US dollars. ยต

    L'INQ
    Taipei Times

    http://www.theinquirer.net/print.asp...=22247&print=1



    OrlandoMary
    www.maryschneider.us

  2. #2
    Simply_sexy Guest
    .53?!? My goodness!!!

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