-Caveat Lector-
In a message dated 12/31/98 11:08:57 PM Eastern Standard Time, [EMAIL PROTECTED]
writes:
> >
> >Now, in her latest communique, Mills' source has revealed
> >something so inherently obvious that the wonder is it was not
> >discerned until now. He is quoted as saying, "The Euro goes into
> >effect today. Once this happens, kiss good-bye to the Federal
> >Reserve." With the advent of the "Euro," a unified European
> >currency, the U.S. dollar/Federal Reserve Notes face real
> >competition as the world's reserve currency of choice.
This has been discussed a number of times over the past couple of years in
Business Week, the business section of the NYT, and in US News. The
conclusion has generally been that both currencies will serve as reserve
currencies.
IMHO, the Euro will prove the most popular. This is because the US is
becoming less modern as time passes. The key to societal (national) strength
is for knowledge and wealth to widely exist over the entire population. We
are slowly losing ground and Europe is gaining ground in the areas of societal
strength and cohesion. It is inevitable that we lose ground on a relative
basis. In fact, we have already lost enormous ground. Our 800 pound gorilla
armed forces is keeping our prestige up but that is becoming less of a factor
since the fall of the Soviet Union. In the end, we will look on as the new
big boys make the key decisions.
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