The Attack on the US Dollar
By Alan Caruba

It’s bad enough that the Middle East has us over a barrel of oil thanks to our continued dependency on access to its huge reservoirs of crude; but largely unknown to most Americans, the Organization of Islamic Conference and the Islamic Development Bank have a long-term goal of replacing the U.S. dollar as the reserve currency for world trade. A flight of foreign-exchange reserves away from the dollar would depress its value and potentially increase the value of the Euro by 20 to 40 percent. This is extremely bad news for the United States and for the West in general. Read on.