You guys seem to be conflating a country's overall economic strength with currency value. A country's government (and often even foreign governments) have far more control over the exchange rate of a currency than they do over the overall economy, and can increase the value of a currency by spending foreign currencies to buy their own currency, increasing the interest rate, or even simply printing less money. Generally, it's considered bad economic policy to do so, but blaming the U.S. government for the fall in the value of the dollar is entirely valid, because they could stop it from happening, but have chosen not to (even if this was the right choice economically.) Of course, blame would probably go partly to the executive, partly to congress, partly to the federal reserve, etc.
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Originally Posted by Door
approximately 30% of the world's currently tapped oil
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This again? Iraq produces less than 7.6% of the world's oil. Iraq has less than 12% of the world's proven reserves. I do not know where you're getting the 30% number from, and this isn't the first time you've used it.