George
Well if we agree to differ, at least we understand where the other one is coming from...
By printing dollars, I was alluding to the fact that the dollar as the world's reserve currency, appears to be insensitive to inflationary pressures that would destroy other currencies. That is the American government is the only administration in the world that can buy itself out of a hole by printing more money. Other countries have to earn their dollars through trade with the US to enable them to buy the dollar priced commodities they need to keep their economies going - such as oil. [We are getting back to Iraq here].
I'm not saying the dollar is inflation proof, but its less prone to inflation than all other currencies. If a barrel of oil costs $50 and the US government speeds up the printing presses, after a year or so, a barrel of oil will still cost about $50. But if the government of any other country suddenly started producing huge amounts of its own currency (not supported by economic growth), its value against the dollar would plummet. They would end up trading bucket fulls of money for that one barrel of oil.
Regarding Gibbon, not sure if I understand you
you said "The barbarians are at your gates as well. "
did you mean your as in Britain's
or your as in Europe's?
And does the "as well" mean that you accept the Barbarians are already at the gates of the American Empire?