Paul Craig Roberts:
The World Can Halt Bush’s Crimes by Dumping the Dollar — - "The US is totally dependent upon foreigners to finance its budget and trade deficits. By financing these deficits, foreign governments are complicit in the Bush Regime’s military aggressions and war crimes. The Bush Regime’s two largest lenders are China and Japan. It is ironic that Japan, the only nation to experience nuclear attack by the US, is banker to the Bush Regime as it prepares a possible nuclear attack on Iran.
If the rest of the world would simply stop purchasing US Treasuries, and instead dump their surplus dollars into the foreign exchange market, the Bush Regime would be overwhelmed with economic crisis and unable to wage war. The arrogant hubris associated with the "sole superpower" myth would burst like the bubble it is.
The collapse of the dollar would also end the US government’s ability to subvert other countries by purchasing their leaders to do America’s will."