Max Keiser

"Since the spring of 2003, the dollar has lost over a third of its value as measured against other major currencies. This year (2007) alone it's fallen by over 9%.

A declining American dollar has been hailed by many commentators as a solution to the growing US trade defecit, but America's trading partners complain that they're having to pay for the US's own economic shortcomings. As the dollar falls more heavily against the Euro, for example, it makes US exports significantly cheaper compared to their European counterparts.

Speaking before the US Congress in early November French President Nickolas Sarkozi warned that the dollar cannot remain someone else's problem. He said if we're not careful monetary disarray could morf into economic war, and we would all be its victims..."

Max Keiser: "Until a few months ago, it was believed that America was the richest nation in the world, that the American consumer would 'heroically' be 'the world's consumer'. How did is all go so horribly wrong so quickly?

Also on taosplaza.com: Death of the Dollar Part 2.