''The dollar was for six decades the predominant currency in international trade. This gave great benefits to Wall Street financiers, great influence to U.S. government and made it possible to avoid consequences from a chronically unfavorable trade balance. Even today, despite the financial crisis originated in Wall Street and the creation of "quantitative easing" for much more than a trillion, 60 percent of all currency reserves are in dollars. But there are big changes coming.
The U.S. economy deteriorated for decades and the financial effort to save the banks has diverted and sterilized resources that could have stimulated it. Rising unemployment, U.S. de-industrialization and a chronic trade balance deficit recommend a departure from the dollar.''read more
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