The American and Iranian decisions coming into effect the week of March 20-26, 2006 will catalyse seven sectoral crises into a total crisis, affecting the whole planet in the political, economic, financial and probably military fields: loss of confidence in the Dollar, explosion of the US financial imbalances, oil crisis, end of the US leadership, distrust towards the Arab-Muslim world, inefficiency of global governance and uncertainties as to the European governance. Of course these crises are interconnected, even if the actors in each sector have a tendency to take into consideration their sectoral datas only; it is precisely this feature which increases the risk of acceleration of the course of History at the end of March 2006. In the present issue, the first two sectoral crises are detailed. The other ones will be presented in the following issues.

2.1 From a « loss of confidence » in the Dollar to an era of « distrust » towards the Dollar With their decision to put an end to the publication of M3 and other indicators designed to measure the evolution of Dollar ownership worldwide, the US authorities initiated a policy of « hidden monetarisation » of the US debt. The Bush administration’s incapacity to handle the various deficits (budgetary, commercial) and the related debt, will result in a monetary creation of unequalled proportion, leading to a dilution of the American debt in an ocean of Dollars. The process has in fact already started: during the first three and a half months of the US fiscal year (beginning in October), the Federal Reserve has increased by 320 billion USD its stock of currency, that is 5 times more than it did over the same period last year…

Read more in the GEAB No 2 / 16.02.2006