I received a Currency Capitalist publication flyer from Erika Nolan -- is it true as what she states that certain countries have announced that all future transactions will be in non-dollar currencies, what does this action will do for "our" spend now and pay later type of government and our future . thanks Tadeusz in Illinois.

I believe that Iran does not /did not accept dollars for their oil. They wanted Euros. They moved away from it several years ago. I don't know if they now take the dollar or not. One of the "conspiracy theories" out there was that about the same time Iran said they would no longer accept dollars for their oil, Saddam Hussein in Iraq made the same announcement. Hence the invasion of Iraq was not to save people, it was to save the dollar. What helps prop up the dollar is that it is the worlds currency for oil transactions, and it forces countries to hoard dollars so that they can buy oil. The hoarding provides a certain strength. I believe that Venezuela and Russia have made similar pronouncements, but don't think they carried forward with them. And with the unwinding of the Euro, probably glad they didn't.

The Currency Capitalist may also be referring to China trying to divest itself of the dollar loans that they hold. I think they hold about $2Trillion in treasury notes right now, and looking at Obama's proposal for another $1.5 trillion in debt that must be financed. The last thing they want is to hold more notes, but they have to continue to help finance us to keep our/(now their) dollar strong. They don't want to be holding a bunch of worthless notes. I think they will try to trade those notes to other countries for their resources, which would help China get rid of some of their notes, and still allow them to loan us money for our deficit, without raising their exposure about $2T.