Sharky:

It is only a matter of time. The "Bond Vigilantes" will get around to the US$ and Euro also. A little money invested in US$ contra investments such as gold, silver, Norwegian Krone, Canadian $, Australian $, New Zealand $, oil and virtually all commodities, will be welcomed as the US$ and Euro, decline in relative value. Ultimately, the combination of oil denominated in the Canadian $ equivalent to the US$, may well, if everything does not crash and burn, save Connachers bacon, yours and mine. That is if we get performance out of POD 1 and Algar. Do not under estimate what currency valuations can do given time and a bad debt situation in your own currency. Even Germany is not good. They just have a high savings rate. The US is worse than some of the Southern European countries!! Unless we end up in a downward deflationary spiral, we are in for a good deal of inflation. That is the aim of our governments. Inflate away our debts. Frankly, the developing world may not be able to afford our not succeding in inflating away our debts. Do not be surprised to ultimately see value of any currency tied at least partially to some measure of "hard assets". We obviously require the discipline!!

Brian