peaceandlove
03-30-2009, 04:32 AM
The Dollar's Days May Be Numbered
By Associate Editor David Stevenson Mar 27, 2009
Excerpt:
So anyone who holds US dollars could be forgiven for getting a bit twitchy about the value of their holdings. And the Chinese have started the ball rolling. Central bank governor Zhou Xiaochuan has called for a "super-sovereign reserve currency" that would be run by the International Monetary Fund (IMF). Russia, Brazil and India have backed the idea as well.
Now people have been predicting the end of the dollar's status as reserve currency for years. But it's easier said than done. Having the global reserve currency is the main reason that America has been able to rack up the debts it has. Losing that position might be healthier for the global economy in the long run, but it wouldn't be a very comfortable adjustment for the US.
Complete article: http://www.moneyweek.com/investments/the-dollars-days-may-be-numbered-14694.aspx
Source: http://solari.com/blog/ Catherine Austin Fitts' blog
By Associate Editor David Stevenson Mar 27, 2009
Excerpt:
So anyone who holds US dollars could be forgiven for getting a bit twitchy about the value of their holdings. And the Chinese have started the ball rolling. Central bank governor Zhou Xiaochuan has called for a "super-sovereign reserve currency" that would be run by the International Monetary Fund (IMF). Russia, Brazil and India have backed the idea as well.
Now people have been predicting the end of the dollar's status as reserve currency for years. But it's easier said than done. Having the global reserve currency is the main reason that America has been able to rack up the debts it has. Losing that position might be healthier for the global economy in the long run, but it wouldn't be a very comfortable adjustment for the US.
Complete article: http://www.moneyweek.com/investments/the-dollars-days-may-be-numbered-14694.aspx
Source: http://solari.com/blog/ Catherine Austin Fitts' blog