BB
And I just re read your more recent post with reference to Iraq, Libya and Iran.
I think we are more on the same page than originally thought.
"The only thing backing the USD is the "Full Faith & Credit" of the US - in essence its military might."
Some would suggest that the USD is a defacto oil currency which is why the US have taken action against ME oil producers to prevent them from setting up a competing bourse. The Iranians already have which is why I would not want to be buying beach front property there for a very long time.
Side note wrt Iran - does anybody remember the B-52 that "lost" a nuke on the way from Minot to Barksdale? I wonder why that happened.