Please note that the post below was published more than ten year ago on 21st November 2009 Nick Herbert MP, shadow cabinet member for the Environment, Food, and Rural Affairs, was in Cumbria this morning to see the areas affected by the flooding. He writes on Conservative Home about his visit. Here is an extract. I’ve been in Cumbria today to see the areas affected by the floods. I arrived early in Keswick where I met officials from the Environment Agency. Although the river levels had fallen considerably and homes were no longer flooded, the damage to homes had been done. And the water which had got into houses wasn’t just from the river – it was foul water which had risen from the drains. I talked to fire crews who were pumping flood water back into the river, and discovered that they were from Tyne & Wear and Lancashire. They had been called in at an hours’ notice and had been working on the scene ever since, staying at a local hotel. You cannot fail to be impressed by the
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It would have to be a pretty big switch (including a change to how we power the majority of cars) to eliminate the petro-dollar as a significant factor in economics but over a matter of decades that sort of switch can and does happen.
this reduces the global demand for the USD thus they tend to find their way back home, It also takes away the US "credit card with no limit". The dollars no longer head abroad (many less people need them) so they stay in the US and if they try and inflate (money print) then the effects of doing so are felt much quicker than today.
Thats more what I meant. I know a few countries have tried it before, Saddam in iraq switched to Euros for his oil, Gadaffi in Lybia was starting up a gold backed currency "the dinar" the US of course him them back rather hard, but now Iran is going that way and it has the backing of russia and china (which trade oil between them in the Yuan)