The death of the dollar?

By Professor Ngaire Woods
Presenter, Analysis, BBC Radio 4

We are living in economic chaos. Banks, homes, jobs, and businesses are at risk. Yet curiously, the one thing that seems stable is the dollar.
It is a symbol - and a lever - of American power and leadership, itis the standard unit of account for much of the world's economic activity. And in times of crisis, it has often seemed a safe haven.
But in the longer term, some experts believe this crisis could mark a turning point in the dollar's fortunes, hastening a fall from power which has seen its value decline over several years before its recent rally.

"I think today's financial crisis is going to hasten the end of the dollar as the world's reserve currency", says Avinash Persaud, chairman of Intelligence Capital Limited.

"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." ..... more here