Longtrman, it would take far too long to give a thorough explaination on this forum.However I was refering to what is known as the bretton woods conference held in 1944 at a hotel located in a new england state. this once closed and abandoned hotel was remodeled and refitted especially for this meeting at a cost of several million post war dollars.the meeting was attended by financial representives of approx. 140 countries, it was considered at the time to be absolutely top secret.it was here that our government decided it would abandon the pure gold standard, which dictated that there must be one dollar in gold for every one dollar note printed.it opted for a system in which paper money itself became the standard.it enabled governments, primarily the USA, who became indebted to simply print more money, the value of each country's currency on the world market was tied directley to the amount of inports and exports each country was allowed.in short, in order to devalue the dollar and gain more exports for its country, many countries ,mainly china, india and middle eastern nations. began buying united states federal reserve notes.the american financial institutions hold only about 23% of these notes, with the rest in the hands of other countries. our elected officials, having allowed the USA to become hostage to these countrys, will do nothing to protect american interests against the very thing the farmtrac dealers are experencing .However as maddening as it is, we must not lose focus.anger towards Escorts LTD will not solve the imediate problem. we must deal with the textron problem first, if we are to survive in this industry.-----------taxpayer
