International trade is dependent on Letters of Credit issued by banks: http://www.nakedcapitalism.com/2008/10/international-trade-seizing-up-due-to.html http://

International trade is dependent on Letters of Credit issued by banks: http://www.nakedcapitalism.com/2008/10/international-trade-seizing-up-due-to.html http://www.nakedcapitalism.com/2008/10/international-trade-s... The shit will really hit the fan when your lights go out because your local power utility cannot get a shipment of fuel oil when no bank will guarantee their credit.