Discussion in 'Economy' started by JBeukema, Mar 28, 2011.
This is news?
Granny got her money in Halliburton an' BP stocks...
Expert: U.S. should 'give up on the dollar'
April 15, 2011: The push to replace the U.S. dollar as the world's reserve currency has been gaining steam, with one expert arguing that America "must give up on the dollar."
China and Russia are talking about creating a new currency backed by gold, replacing the U.S. dollar as the reserve currency.
Russia backs return to Gold Standard to solve financial crisis - Telegraph
If the dollar loses its status as the reserve currency, we will no longer be able to use devalued dollars to pay our foreign debt. This will cause hyperinflation quite quickly. Washington has been silent on the issue.
We need to stop the printing presses, now. We need cut deeply and balance our budget. None of this is going to happen. I am buying silver and storing food. I have never feared total economic collapse before, but I think it is a very real possibility.
Having said all of this, I could be wrong.
There's not enough gold in the world for it to replace the dollar.
There sure is a lot of bearishness on the dollar.
Granny says dem politicians don't know what dey doin' - dey just monkeyin' around...
Treasurys Geithner: Solving Fiscal Crisis Key to Maintaining Confidence in Dollar
Thursday, May 05, 2011 Treasury Secretary Timothy Geithner said the key to maintaining global confidence in the dollar rests with whether the U.S. government can solve its fiscal problems. The federal budget deficit projected for fiscal year 2011 is $1.6 trillion and the national debt is now $14.33 trillion.
and you're far from alone Liberty
the asian monetary consortium has been moving towards a fiat all their own, pushing the IMF for SDR's in liue of the USD
the implications could, overnight, be of an economic magnitude not seen before, the only saving grace is the debt we owe, and who holds it
but like any gambling addict, the bookie will come down on a bad risk, even if it means his own loss
Cotton prices at record levels.
I'm pickin' as fast as i can.....
The dollar index is proof that we're in a dollar-crisis now, even though it was worse three years ago when we weren't. CNBC also tries to push the EURO becuase it's strong now, even though they didn't push it three years ago when it was stronger.
How about instead we give up on this 'give up on the dollar' hype.
Reserve currency is not something that can be assigned. It is a status that is earned (or lost) by the actions of the governments involved.
Russia leading a currency reform is a rich joke. they have hyper inflated so many times that they have had to take three zeros off the currency 7 times.
If I can easily trade toilet paper for food, I do not need a small piece of paper.
Separate names with a comma.