Is Bush's trade deficit handing US autonomy over to Chavez?

[BL611]

All right I know many of you think Chavez is the most wonderful thing since sliced bread (or, uhh Mao...), so I will address this question to those here who are not fans of his.

I have not seen this at all discussed in the media, but I do know that it normal practice for China to pay for oil imports with US dollars, and that China's recent agreement with Venezuela has made them a big exporter to China. Reason would then dictate that China is paying Venezuela with massive amounts of US dollars, if this is the case one would be lead to believe that Chavez would eventually have enough dollar reserves to cause a run on the dollar. I have not really researched this yet, but I was curious if anyone knew a flaw in my reasoning that I am not yet aware of?

[lastknowngood]

1. Chavez just traded all of his us dollars and treasury certs. for

euros. He moved 20 or 25 billion dollars out of us banks to europe and divested Venezuela of all U.S. securities.

[windbreeze]

2. Isn't this one of the things

that got Iraq invaded??? Saddam did the same thing (in Nov, of 2000 or 2002, I believe it was)..that was why the big shipment of US Dollars,(billions) into Iraq, as soon as Bagdad fell...
windbreeze

[nadinbrzezinski]

3. yep

[1932]

4. Remember that CITGO genereates something like 2 billion new dolars

for Venezuela every year, of which a couple 100 million are profit that can go back to Venezuela, so they have a nice stream of new dollars.

[1932]

5. Why would Venezuela getting paid in dollars cause a run on the dollar?