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Topic: Dollar hegemony

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	Dollar hegemony - Wikipedia, the free encyclopedia
		Dollar hegemony is the term coined by Henry C.K. Liu in a widely circulated and quoted article "Dollar Hegemony has to go" in Asia Times on April 11, 2002 that describes the special relationship that the US dollar has to the global economy.
		Dollar hegemony as the term is used by Liu specifically describes a geopolitical phenomenon of the 1990s in which the US dollar, a fiat currency, assumes the status of primary reserve currency in the international finance architecture.
		The dollar maintained its status due to: agreements with Saudi Arabia and OPEC to trade oil only in dollars, the largest stock market NYSE and many other commodities were being traded in dollars, and large credits for developing countries were also dollar denominated.
	en.wikipedia.org /wiki/Dollar_hegemony (596 words)

	United States dollar - Wikipedia, the free encyclopedia
		However, only cents are in everyday use as divisions of the dollar; "dime" is used solely as the name of the coin with the value of 10¢, while "eagle" and "mill" are largely unknown to the general public, though mills are sometimes used in matters of tax levies and gasoline prices.
		In Lebanon, one dollar is equal to 1500 Lebanese pound, and is used interchangeably with local currency as a de facto legal tender.
		The first dollar coins issued by the United States Mint were of the same size and composition as the Spanish dollar and even after the American Revolutionary War the Spanish and U.S. silver dollars circulated side by side in the United States.
	en.wikipedia.org /wiki/United_States_dollar (2455 words)

	[A-List] US imperialism: dollar hegemony (Site not responding. Last check: 2007-10-21)
		Dollar hegemony forces the central banks of US trading partners to hold their dollar trade surplus in US bonds and assets, if they want protection from speculative attacks on their currencies.
		Dollar hegemony allowed the United States to levy a tax on the rest of the world for using the dollar, a fiat currency, as the reserve currency for world trade.
		This has been sustained by dollar hegemony in which the role of the dollar as the reserve currency for trade keeps the trade surplus in dollars earned by countries exporting to the US as captured investment or loans in the dollar economy.
	lists.econ.utah.edu /pipermail/a-list/2003-August/027326.html (6244 words)

	Asia Times Online - News from greater China; Hong Kong and Taiwan
		Dollar hegemony emerged after 1971 from the peculiar phenomenon of a fiat dollar not backed by gold or any other species of value, continuing to assume the status of the world's main reserve currency because of the US's geopolitical supremacy.
		Dollar hegemony was causing the dollar to rise instead of fall in the face of a massive injection of liquidity by the Fed in the US money supply to respond to a sudden collapse of US equity markets that led to a multi-year recession.
		Dollar hegemony, a peculiar phenomenon in which a fiat dollar assumes the status as the world's main reserve currency is the main dysfunctionality in the current debt economy and international finance structure.
	atimes01.atimes.com /atimes/China/FJ23Ad06.html (9774 words)

	Trinicenter.com - The War To Save The U.S. Dollar
		Central bankers began to exchange their dollars for gold under the terms of the 1944 Bretton Woods treaty, whereby the currencies of participating countries were backed by gold.
		Dollar hegemony was secured by the size of the U.S. economy and the pricing of oil in dollars.
		If the euro becomes a global currency to rival the dollar, central banks and other traders will sell down their dollar reserves, causing the value of the dollar to plummet (and devaluing the debts of poor countries at the expense of their creditors).
	www.trinicenter.com /oops/iraqeuro.html (1935 words)

	Rep. RON PAUL - The End of Dollar Hegemony (or, why we 'll attack Iran) : SF Indymedia (Site not responding. Last check: 2007-10-21)
		A hundred years ago it was called “dollar diplomacy.” After World War II, and especially after the fall of the Soviet Union in 1989, that policy evolved into “dollar hegemony.” But after all these many years of great success, our dollar dominance is coming to an end.
		The dollar was said to be “as good as gold,” and convertible to all foreign central banks at that rate.
		The pressure on the dollar in the 1970s, in spite of the benefits accrued to it, reflected reckless budget deficits and monetary inflation during the 1960s.
	sf.indymedia.org /news/2006/02/1724848.php (4565 words)

	Iraq and the hidden euro-dollar wars
		The Petrodollar hegemony phase was an attempt by the United States establishment to slow down its geopolitical decline as the hegemonic center of the postwar system.
		A hidden war between the dollar and the new Euro currency for global hegemony is at the heart of this new phase.
		The dollar hegemony is strategic to the future of American global predominance, in many respects as important if not more so, than the overwhelming military power.
	www.globalresearch.ca /articles/ENG401A.html (5361 words)

	The End of Dollar Hegemony
		“Dollar Diplomacy,” a policy instituted by William Howard Taft and his Secretary of State Philander C. Knox, was designed to enhance U.S. commercial investments in Latin America and the Far East.
		Once again the dollar was rescued, and this ushered in the age of true dollar hegemony lasting from the early 1980s to the present.
		After these attempts to nudge the Euro toward replacing the dollar as the world’s reserve currency were met with resistance, the sharp fall of the dollar against the Euro was reversed.
	www.house.gov /paul/congrec/congrec2006/cr021506.htm (4342 words)

	The End Of Dollar Hegemony, Part II
		Dollar Diplomacy: The End Of Dollar Hegemony, Part II by Hon.
		Even when the dollar comes under serious attack by market forces, the central banks and the IMF surely will do everything conceivable to soak up the dollars in hope of restoring stability.
		The dollar’s importance is obvious, but this does not diminish the influence of the distinct plans laid out years ago by the neo-conservatives to remake the Middle East.
	www.dailyreckoning.com /Issues/2006/DRUS022306.html (4327 words)

	[A-List] Europe/US rivalry: Asia & dollar hegemony (Site not responding. Last check: 2007-10-21)
		Low notes that the backlash against the dollar comes in the face of mounting opposition to US foreign policy and Washington's decision to attack Iraq at a time of great economic uncertainty in the marketplace.
		Although oil is currently traded internationally using US dollars, a finance official from Pertamina stated that the euro looks appealing since its been particularly stable as compared with the dollar, which is increasingly volatile against the Indonesian rupiah.
		Indonesia at the moment would seem to be very much dependent on the dollar, since most of its foreign investments, including world aid from the World Bank and the International Monetary Fund, come in the form of US dollars.
	lists.econ.utah.edu /pipermail/a-list/2003-April/024940.html (1053 words)

	Asia Times: US dollar hegemony has got to go
		The current international finance architecture is based on the US dollar as the dominant reserve currency, which now accounts for 68 percent of global currency reserves, up from 51 percent a decade ago.
		The dollar, now a fiat currency, is at a 16-year trade-weighted high despite record US current-account deficits and the status of the US as the leading debtor nation.
		This phenomenon is known as dollar hegemony, which is created by the geopolitically constructed peculiarity that critical commodities, most notably oil, are denominated in dollars.
	www.atimes.com /global-econ/DD11Dj01.html (1911 words)

	Reimposing the Dollar Hegemony - Global Policy Forum - UN Security Council
		Much of the global trade in oil is denominated in dollars and if world prices were to be under pressure from an output increase, oil exporters' earnings could be safeguarded by a proportionate escalation in the value of the dollar.
		YET the reassertion of the dollar hegemony is precisely what the invasion of Iraq is all about.
		And the reasons why the people in these countries should stop living beyond their means (though not speaking the English language) are pronounced by the World Bank with customary reticence: "The U.S. current account deficit is now approaching 5 per cent of GDP, an unprecedented level for this stage of the business cycle.
	www.globalpolicy.org /security/issues/iraq/after/2003/0426hegemony.htm (3645 words)

	321energy :: Black Gold and U.S. Dollar Hegemony :: Douglas V. Gnazzo
		It is actually this difference, between a paper fiat dollar bill, and a silver dollar coin as defined by the Constitution, that has engendered the sorted details of modern finance and monetary policy you are about to read.
		Basically he says that the dollars are not going to be of much help to you, as the oil is being sold for euros and you have dollars.
		The demand/supply of dollar for oil is a separate and much smaller part of the demand/supply for dollars for all goods and services in the world.
	321energy.com /editorials/gnazzo/gnazzo012006.html (8423 words)

	Revisited - The Real Reasons for the Upcoming War in Iraq: A Macroeconomic and Geostrategic Analysis of the Unspoken ...
		The dollar would crash anywhere from 20-40% in value and the consequences would be those one could expect from any currency collapse and massive inflation (think Argentina currency crisis, for example).
		These dollars become "petro-dollars" when are then used by those nation states to purchase oil/energy from OPEC producers (except Iraq, to some degree Venezuela, and perhaps Iran in the near future).
		Should the euro challenge the dollar in strength, which essentially could include it in the denomination of the oil bill, it could be that a system may emerge which benefits more countries in the long-term.
	www.ratical.org /ratville/CAH/RRiraqWar.html (18063 words)

	Bush's Deep Reasons for War on Iraq: Oil, Petrodollars, and the OPEC Euro question
		The chief reason why dollars are more than pieces of green paper is that countries all over the world need them for purchases, principally of oil.
		Instead they are more likely to follow the example of Malaysian Prime Minister Mahathir Mohamad, and turn to the Islamic gold dinar as a way to diminish dollar hegemony in world markets and increase the power of Islamic nations to challenge US policies.
		With respect to the more esoteric financial problems of the dollar, the economist and futurist Hazel Henderson has written that "My recommendations for reforming current international institutions, revitalizing the UN and expanding civic society are summarized in Beyond Globalization (1999).
	socrates.berkeley.edu /~pdscott/iraq.html (4290 words)

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