Thus Victor Borge once began his famous routine called inflationary language. In a slight, albeit innocent, misinterpretation of the matter, Borge said that during inflation, prices go up. Therefore, we have to adjust our language accordingly: before becomes “be-five”; create, “cre-nine”; and a lieutenant would be called a “leut-elevenent.”
The American dollar has been weakening for years. In the early days of the Euro I remember the fretting that went on about what this would do. But the dollar is really the victim of American inflationary monetary policy, which is used to finance unpopular initiatives such as illegal wars of foreign aggression and the socialization of the car industry. Sooner or later, after all this mess, warned Ron Paul in 2008, other countries are going to dump the dollar as the world reserve currency.
The establishment laughed.
Then Vladimir Putin called for this very thing, followed by China, which instigated a parade of U.S. officials (oblivious to the irony, given their mocking attitudes less than a year before) visiting China, begging and pleading them not to dump the dollar and send the U.S. economy into a tailspin.
The plot thickens. Now India has joined the Dump the Dollar Chorus.