Wednesday, July 22, 2009

Our New Reserve Currency.

The Chinese and others have recently been advocating that the dollar be replaced as the international reserve currency.

According to Ryan Grim, in The Drug Czar's High Math: How phony statistics about cocaine prices hide the truth about the war on drugs, so far as the drug trade is concerned, that has already occurred:

The euro has replaced the dollar in the Western Hemisphere as the currency of choice among these traffickers, which is an extraordinary shift,” Karen Tandy, head of the DEA, told an antinarcotics conference in Spain in April 2007. “As cocaine use has declined in the U.S. dramatically, in the European market it has risen.

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