>>I don't believe all this is just because of housing/credit crunch. When dollar is constantly loosing value over long period of time, then converting/moving funds from USD to something else (euro) and some place else (Switzerland) seem like natural move for those heavy rich. It simply preserves their money as substance.
>>Question is what will happen when China and others start converting their 'coupons' to something other then USD.
>>There will be not enough euros left to withdraw from ATMs here in Europe <g>
>

>I just heard that the real reason for going after president Hussein was his plan to abandon $ and switch to €... I know he wasn't that important and this wouldn't be more than a blip on the radar, but there's always the other cards and the whole house of them falling afterwards...

I heard it before from Tracy herself, and there was also that study that WalterM pointed to. But that was more like a just theories
whereas constant sliding of dollar became hard reality. If those theories were correct then it seem that what they tried to prevent by deposing Saddam, is exactly what they caused by staying in Iraq indefenetely and spending trillion or so on it. They turned that carriage downhill themselves basically.
When there is constant slide of dollar then you cannot blame anybody for doing what is their best economic interest.

What I am afraid are usual 'inventions' of how to curb that downhill path. We all know how big capital handled big recessions in the past... Will it be some 'catalysing event' all over again, or 'axis of evil' riding on a new bicycle, or chasing 'Big bear' with 'invisible bees' we are yet to discover out. <g>
If this did not sound very optimistic, then there is also that 2012 apocalypse scheduled soon. I just have to check which church offers best seats/travelling arrangements. Hey honey... remind me what that tv channel number again ? <g>