Kuwait kicks sand on the dollar (blast from the past!)

[Deja Q]

http://articles.moneycentral.msn.com/Investing/JubaksJournal/KuwaitKicksSandOnTheDollar.aspx

The U.S. dollar took a big hit last week. From Kuwait. On May 20, Kuwait stopped pegging its currency, the dinar, to the U.S. dollar.

You know your currency has become a 98-pound weakling when Kuwait can kick sand on it.

Even worse, Kuwait wasn't acting out of any animus toward the United States. The tiny kingdom wedged between Iraq and Saudi Arabia remains a U.S. ally. So the country wasn't trying to make any political point. It had simply become too expensive for Kuwait to keep the dinar linked to the dollar. I expect other countries, not tomorrow but soon, to take the same action. And that will be just one more milestone in the decline of the dollar.

[DFW]

1. I am paid in Dollars and live in Euros

I don't think you could kick me any harder.