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Give it time, comrades. Remember how a couple of years ago, many were talking about the euro replacing the dollar; and how the real reason from the US invasion of Iraq was that Iraq was threatening to switch to euros for oil payments? Remember how many were a-twitter over the trade agreements between Mercosul and the EU, with the EU representating a kindler gentler trading partner in comparison to the US? Now the EU, as a union, has agreed to accept IMF approval before it provides funds from its euro 750 billion emergency program to any member of the union requesting such funds. Remember just a couple of years ago when Brazil's banks stopped providing letters of credit and financing Brazil's exports and imports, preserving dollars, so much so that the central bank had to undertake direct lending to exporters, and the US Fed opened up a unrestricted currency swap line with Brazil's central bank to keep trade from cratering? Remember how China was going to rattle its Treasury holdings like a saber over the heads of the US and demand this and that.... blah blah blah? Maybe not. Maybe everybody forgets these things. Like they've forgotton about peak oil, and the looming shortages with oil at $300/barrel that were just around the corner as we're on the dowhill side of hydrocarbon supplies, sure we are. I guess amnesia is a critical component to capitalist reproduction. What is being uncovered in the current machinations is not the decline of the US vis-a-vis Brazil, or Europe, or China, but the previous myth of US hegemony; US unilateral ability to dictate all things to all countries at all times. And still, Lula funds and staffs the US/UN oppression of Haiti, along with Argentina, Chile, Uruguay, Bolivia. I think Lula is acting upon the wishes of the Brazilian bourgeoisie who don't want to lose their markets when the US decides to light up the Persian Gulf again. You think we should applaud him, and his class, for that? For playing tweedle-dee to Obama's tweedle-dum? ________________________________________________ Send list submissions to: Marxism@lists.econ.utah.edu Set your options at: http://lists.econ.utah.edu/mailman/options/marxism/archive%40mail-archive.com
