The death of the dollar?

[dipsydoodle]

"For the first time ever we're now seeing that in the financial markets it costs money to guarantee you against a US government default."
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But for the dollar to lose reserve currency status would end what has been in many ways a huge bonus for the US.

It is sometimes described as the ability to write cheques that no-one ever cashes.

So for the American government there is simply no such thing as living beyond its means. With the rest of the world demanding dollars, all the US has to do is to keep printing them.

http://news.bbc.co.uk/1/hi/business/7684397.stm

[razors edge]

1. It's time for a new dollar.

If the treasury can print a bond and hand it to the Fed for the permission to print money at interest payable to the Fed, why can't they just print the dollars themselves without interest?

Cut out the (international banker) middle man.