Why the Dollar's Reign Is Near an End

[irishspirit]

The single most astonishing fact about foreign exchange is not the high volume of transactions, as incredible as that growth has been. Nor is it the volatility of currency rates, as wild as the markets are these days.


Instead, it's the extent to which the market remains dollar-centric.


Consider this: When a South Korean wine wholesaler wants to import Chilean cabernet, the Korean importer buys U.S. dollars, not pesos, with which to pay the

Chilean exporter. Indeed, the dollar is virtually the exclusive vehicle for foreign-exchange transactions between Chile and Korea, despite the fact that less than 20% of the merchandise trade of both countries is with the U.S.


Chile and Korea are hardly an anomaly: Fully 85% of foreign-exchange transactions world-wide are trades of other currencies for dollars. What's more, what is true of foreign-exchange transactions is true of other international business.



The Organization of Petroleum Exporting Countries sets the price of oil in dollars. The dollar is the currency of denomination of half of all international debt securities. More than 60% of the foreign reserves of central banks and governments are in dollars.


http://online.wsj.com/article/SB10001424052748703313304576132170181013248.html?mod=WSJ_hp_mostpop_read

And there is also this

The Chinese central bank surprises with a spectacular announcement: Company of the budding superpower can complete external trade in future in Yuan carry out their place in dollars
. Beijing shakes America's claim to represent the key currency - with serious consequences for the U.S..

http://translate.googleusercontent.com/translate_c?hl=de&ie=UTF-8&sl=de&tl=en&u=http://www.spiegel.de/wirtschaft/soziales/0,1518,748730,00.html&rurl=translate.google.com&usg=ALkJrhh-UtA2IL3Z2Z09dGJmvN-Qgf2fIQ

[GlassSteagallfan]

Wow....the second article is a bit tough to read and understand due to the translation

Both articles do not factor in the possibility of the restoration of the Glass Steagall Act, after which will remove from the books of the US Treasury, trillions of derivative debt. Then the building of the NAWAPA project will stabilize our economy, putting millions to work in highly skilled jobs.

Of course, since the British Monarchy told Obama that the passage of Glass Steagall would be considered a 'hostile' act against the monarchy, we will have a new war to contend with.

[Koyaanisqatsi]

Wow....the second article is a bit tough to read and understand due to the translation

Both articles do not factor in the possibility of the restoration of the Glass Steagall Act, after which will remove from the books of the US Treasury, trillions of derivative debt. Then the building of the NAWAPA project will stabilize our economy, putting millions to work in highly skilled jobs.

Of course, since the British Monarchy told Obama that the passage of Glass Steagall would be considered a 'hostile' act against the monarchy, we will have a new war to contend with.

Won't happen then. If the Warburgs, morgans and rothschilds don't want it to happen it won't. Owned us/U.S. since 1913, the monster from Jekyl Island at work to this day. Thats why Ron Paul is so awesome, also why he'll never win an election, not in a million years.