Daily Kos: The Last Days of the PetroDollar

The Last Days of the PetroDollar:

"I'm not convinced that a gold standard is necessarily the answer; Richard Cook has written about the urgent need for monetary reform and has put forth a proposal on how it might work, starting from the idea that the state has the sovereign duty to issue to control its own credit rather than having the banks in charge of credit. He advocates seeing credit as a public utility, rather than an instrument for extreme profit-making and speculation. It's an intriguing article, without any Fed-speak or jargon: An Emergency Program of Monetary Reform."