Thought I'd start doing some short blogging since I have the ability to do it on this webpage. We'll see if I can keep it up.
On a daily basis I get plenty of emails from all over the poltical and economic spectrum. I usually always reply after having read/seen the material and it is always of an opinion contrary to the material. This usually sparks a small debate but my purpose in doing this is not to create conflict rather it is part of my education process.
When I am locked in debate it forces me to research my topic in such a way that I cannot have my argument poked full of holes. In the process I learn a tremendous amount and discover new sources of great information. I advise everyone to try it, the hard part is not upsetting your counterparty. Good luck with that, I've had to learn the hard way a few times.
The following video link was sent to me, so I checked it out.
Video Link
Here is my response after a long chain of emails of men pounding their chests in favor of the material:
I'll be the lone voice of cycnicism in this chain of emails. Great video, well done and accurate in it;s conclusion that Obama should have answered the question politcally arrogantly, we are an exceptional country. But why? All the reasons in the video can be chased back to one thing that allows us to finance all four of Bill Tuttle's points, the dollar being the world reserve currency. The dollar is the most transacted currency in all of history, most everything that exists has a price in dollars. The most important commodity in the world can only be traded in dollars, oil. The world reserve currency is an exorbitant privelege to the host country. It in effect installs a toll booth for all international purchases. It allows the host country to run enormous trade imbalances and massive deficits because as global trade increases so does the demand for dollars. But the way our monetary system works for every dollar issued to a country in need of dollars there has to be a corresponding debt (afterall, all money is backed by a debt). The government has obliged these debts by building the worlds largest military, funding scientific research, large govt. projects etc. etc.. International trade is financing this country, not the other way around. The reason the US does not run as a classical empire but rather as an anti-empire is actually confusing so I can understand why Mr. Tuttle is befuddled. The US does not takover countries it rather 'opens their doors' to trade. Since international trade is done mainly in dollars and ONLY in dollars if you are a small country than the US has no need to take them over, they have just installed toll booths on them and are robbing them of their resources. It's the Neo-classical model of Empire building.  This is not a left or right issue but an issue of m-o-n-e-y. Avoid the Noise.Steve

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