Death to the Dollar?

 A report in Britain's daily newspaper The Independent said oil-exporting countries in the Middle East and big energy consumers such as China, Russia, Japan and France were working on a plan to end the practice of buying and selling crude in dollars. You can see the full article here http://money.cnn.com/2009/10/06/markets/dollar_oil_gold/?postversion=2009100615
Although, these countries deny any talk of such. Who could blame them? If it weren't for the legal tender law, a lot of informed Americans would be using something other than the dollar, if they knew what was best for their savings. Read the Feds Monetary report: http://research.stlouisfed.org/fred2/data/BOGUMBNS.txt The Fed has doubled the money in one year! That means the dollar has lost 50% of it's value in one year! So much for that RV and year long vacation at retirement.... retirement? At this rate there may not be a retirement for anyone. One has to wonder whether true or not, what would be the implications if something like this happens. Dumping the dollar would mean flooding the market, which would cause serious inflation and major loss of confidence in the currency, after all, is it not the faith in the currency in which gives it it's value? Last I knew the dollar was backed by nothing, other than a bunch of morons (us) playing monopoly and using it's money. Maybe we should just continue to graze like cattle on the lies spit out by the media and the Obama ilk. Let's just take their word for it that everything that looks like it is a mess ( like the economy) will be just fine, and everything that seems to be bullshit (Swine Flu) will kill you if you do not do what you are told (Like getting vaccinated).