50% of our money is outside the USA!

EMERGENCY

  Why the U.S. Should Fear the Euro-Zone Crisis

As the Federal Reserve joins global central banks in a collective action against the looming euro meltdown, Slate's Matt Yglesias explains why it's so crucial that the U.S. participate: non-American banks hold nearly 50 percent of the U.S. dollars in the world, and a European crash might suddenly make them unavailable to American borrowers. "You never want the people in charge to actually set off a panic by speaking too soon about hypothetical calamities, but we’d all better hope that somewhere in the basement of the Treasury Department and the Federal Reserve they’re prepping a Plan B to keep money flowing even if European finance dries up."..read more at the Daily Beast.

From Alice: If the euro crashes, there will be more than US bank problems--although why 50% of our dollars are in foreign banks is allowable shocks me- is the social chaos awaiting its moment in the Balkans, the former Yugoslavia, where the UN never created peace and the US withdrew its attention during the Bush administration. A war in the Balkans would allow Russia to continue its Caucusus hegemony unobserved and its slow crawl back into Eastern Europe with both weapons and influence.