As the Dubai Ports World plan continues to simmer, most congressional leaders twittering about security have ignored the potential monetary consequences of nixing the deal. By telling DP World, a United Arab Emirates corporation with willing investment dollars, to "go stuff it," we can stop worrying about the so-called threat to dollar hegemony posed by the creators of the Iranian oil bourse. An improbable senatorial alliance of Chuck Schumer, Norm Coleman, and Bill Frist is beating the Iranians to the punch.
How Twin Deficits Have Reinforced Dollar Hegemony
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