There are still some saying that Spain will be the next of the Piigs countries to have serious problems. Euro could take a hit then and dollar go up.

Maybe the power brokers at the Bretton Woods II hosted by Geroge Soros last week have figured out the financial system for all us minions. They figured the whole world international financial system in 1944 even before the end of WWII. At the time Britains John Maynard Deynes wanted a world currency call the bancor. However the United States objected and the US dollar was made the reserve currency. Big part of the reason was that most countries except the US was devistated by the war. Wikipedia says after the end of World War II, the U.S. held $26 billion in gold reserves, of an estimated total of $40 billion (approx 60%), and the US produced half of the world's manufactured goods. It came down to Britain and the US makeing most of the final decisions. However, since US had the money and loaned Britan and France money the US had clout.

Talks of gold frozen at 35$ per ounce.The dollar was redemable in gold. After awhile the true market price was more than $35. Even though US had agreements with other countries to hold gold and not selling it, countries like France would redeme $35 gold from the US and then sell in the open market. US started loosing a lot of gold.

Wikipedia also talks about In 1960 Robert Triffin, Belgian American economist, noticed that holding dollars was more valuable than gold because constant U.S. balance of payments deficits helped to keep the system liquid and fuel economic growth. What would later come to be known as Triffin's Dilemma was predicted when Triffin noted that if the U.S. failed to keep running deficits the system would lose its liquidity, not be able to keep up with the world's economic growth, and, thus, bring the system to a halt. But incurring such payment deficits also meant that, over time, the deficits would erode confidence in the dollar as the reserve currency created instability.

Even mentions in order to get the the world economy going after WWII the US would give grants to other countries to rebuild their industries and the products they produced would be then targeted for the US to buy.

Lots of interesting stuff on Bretton Woods I in 1944 in Wikipedia, but its a bit long of read and some is boring, but they power brokers are at it again for Bretton Woods II.

Are we going to get a world currency this time and who is going to have most of the clout at the meetings.

If you can't sleep tonight go to wikipedia and read it. It will really open some eyes on how all the countries jockey for position and also how the US has slowly gone down after being on top of the world after WWII.