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Reserve currency
By Dave Winer on Sunday, July 10, 2011 at 11:46 AM.

A picture named dollar.jpgI don't think people appreciate how much our way of life is subsidized by the fact that the dollar is the reserve currency. Once that's gone, and a default will kill that for good, we're hosed. #

As is the rest of the world. People are so hungry for a safe place to park their money they're willing to loan it to the United States for virtually no interest.  #

Once that option is gone, where will they go for safety? There really is no other place to go.  #

The President and the Republicans keep likening our economy to a family. Tightening your belts in hard times, and all.  #

Well, if you like that analogy, it's as if our family is in the bagel business, and we don't even know it. And we're about to store a bunch of used Porta-Pottty's in the same place we make the bagels. What do you think that'll do for the family business?? #

Christmas Tree
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