India's rupee looking good on the markets...

Chuck Butler, columnist at The Daily Reckoning had some good things to say about the rupee.

There was big news, overnight, about India's currency, the rupee. Now, a lot of you know that we've shied away from the rupee because of its 'non-deliverable' status. Well, that could all change in the future, if the stories this morning are bang on.

The dollar, on the other hand, doesn't seem to be looking that good according to the Free Market News Network. What can the Fed do about it?

Speaking of the falling dollar, does anyone realize that with the rising US debt and the never-ending Iraq war, that this war is being funded by other countries? China, for one.

It is not the first empire to rely on financing from its rivals - the English counted on the United States to pay for World War I - but it is the first empire, ever, to squander its borrowed money and its military strength in a war against nobody.

More here at the FMNN's summary of The Daily Reckoning.