You just would have to open a can of worms just as I'm heading off to bed, Donal!

But here's a few interesting tidbits:

1.  With the dollar, euro and yuan all trading in liquid markets and all seen as safe havens, there will be movement into all three of them in periods of financial distress

If the euro and yuan are equal to the dollar then there's nothing stopping anyone in the world from demanding payment in euros or yuan rather than dollars. So how much would a barrel of oil cost the US if it the price was set in euros? Look at #2 for the answer.

2.  American companies will have to cope with some of the same exchange-rate risks and exposures as their foreign competitors.

That's it in a nutshell! If you think a BMW is expensive now, just wait til you see the sticker price in euros then look at the exchange rate risk. And the same for oil too!

But what GOPer's in Congress have yet to understand, toying with the budget makes them there foreigner's queezy and if they had a chance they'd dump their need for U.S. Treasury securities. Just think what would happen in the US if there were no bids for U.S. Treasury securities. Or there weren't enough to break even or whatever. They'd have no choice but to raise taxes.

I got a lot of other articles on the subject I'll post here later when I wake up.