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David Wozney

Re: “Alan Greenspan has said the Euro has replaced the U.S. dollar as the world's benchmark currency.”

A “Federal Reserve Note” is not a U.S.A. dollar. In 1973, Public Law 93-110 defined the U.S.A. dollar as consisting of 1/42.2222 fine troy ounces of gold.

Paul Hillsdon

From a young Canadian's perspective, I welcome the diversification of the world economy. As the US loses it's strangle hold on this Earth, you will not see one specific superpower rise. You can already witness this phenomenon, as people continue to argue over whether China or India will rule the world. The truth is, there will be a bunch of large trading blocs. The EU is already one, and Latin America is currently rising in power on the market thanks to Chavez's Anti-America stance. Add in India, China, and the US, and you've got a much more productive world economy.

I think there's a much larger problem here though and that is the lifestyle of Americans will have to change. As third world countries become more modernized, it is simply unsustainable to have and use as much as the US does. So, we will see another balancing out here, with Americans learning to use far less, and third world countries learning to gain only a little more.

In any case, it has been my opinion for a long time that America is not great at all, and that they like to play the big bully on the playground. It is NOT their responsibility to police the world and enforce their ideals on others; it is NOT their right to control the economy and favour it for their country. I, for one, am glad to see the bully finally get a taste of his own medicine. It's been a long time coming.

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