sshenry
27th May 2011, 19:52
It is a fact that the IMF (International Monetary Fund) was created to ensure the stability of the international monetary system so that various countries can make transactions with each other. Currently the US dollar is the currency of trade, but with the increasing debt and fluctuations in the US market (as well as a steady decline in the dollar’s strength as compared to other currencies) the IMF is considering other currencies as an alternative to the dollar, including a possible switch to SDR’s which some see as a pre-cursor to a global currency:
http://money.cnn.com/2011/02/10/markets/dollar/index.htm
http://theeconomiccollapseblog.com/archives/shocking-new-imf-report-the-u-s-dollar-needs-to-be-replaced-as-the-world-reserve-currency-and-that-sdrs-could-constitute-an-embryo-of-global-currency
As you can see, there are those Americans who are reacting badly to this suggestion (and with just cause) for a switch to another currency could very well be the straw that broke the camel’s back in regards to a collapsing US economy, but from a global perspective, the decision, were it to be made, is realistic.
Global trade needs a steady and strong currency to underpin exchanges, and the US dollar is just not cutting it.
So, what is your take on this?
Do you see the IMF’s consideration of a new currency to be a realistic move?
Is it part of a conspiracy to introduce SDR’s as the new global currency?
In your opinion, what effects would a shift from the US dollar to another currency have on the US and global economy?
Thanks in advance for your input.
http://money.cnn.com/2011/02/10/markets/dollar/index.htm
http://theeconomiccollapseblog.com/archives/shocking-new-imf-report-the-u-s-dollar-needs-to-be-replaced-as-the-world-reserve-currency-and-that-sdrs-could-constitute-an-embryo-of-global-currency
As you can see, there are those Americans who are reacting badly to this suggestion (and with just cause) for a switch to another currency could very well be the straw that broke the camel’s back in regards to a collapsing US economy, but from a global perspective, the decision, were it to be made, is realistic.
Global trade needs a steady and strong currency to underpin exchanges, and the US dollar is just not cutting it.
So, what is your take on this?
Do you see the IMF’s consideration of a new currency to be a realistic move?
Is it part of a conspiracy to introduce SDR’s as the new global currency?
In your opinion, what effects would a shift from the US dollar to another currency have on the US and global economy?
Thanks in advance for your input.