The U.S Dollar is quickly losing its status as the world reserve currency. Five of the top ten economies in the world, plus a few others, no longer use the dollar as an intermediary currency for trade. This trend poses a huge risk to the dollar and the United States along with it.
ZeroHedge points out today that Australia, the world’s 12th-ranked economy, has now joined a growing list of nations that have agreed to bypass the dollar in bilateral trade with China. China, ranked 2nd behind the U.S., also has similar agreements with Japan (3rd), Brazil (6th), India (9th), and Russia (10th).
Although unilateral agreements have been in place for some time between China and the countries listed above, last week the BRICs (Brazil, Russia, India & China) agreed to set up a development bank to compete with the IMF, indicating it’s gearing up to compete in a post-dollar world.
Additionally, Brazil, who agreed in principle to drop the dollar with bilateral trade with China some time ago, just made it official with $30 billion in annual currency swaps which will facilitate around 50% of all trade between them.
Abandoning the Dollar
Abandoning the Dollar
http://consciouslifenews.com/5-10-top-e ... r/1153333/
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
-Alexander Hamilton
-Alexander Hamilton
Re: Abandoning the Dollar
It about time.
Thank You.....er, em, I forget the name of the god of economics....
Thank You.....er, em, I forget the name of the god of economics....
Re: Abandoning the Dollar
Adam SmithSimple Minded wrote:It about time.
Thank You.....er, em, I forget the name of the god of economics....
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
-Alexander Hamilton
-Alexander Hamilton
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Re: Abandoning the Dollar
Elect a Democrat, don't be surprised at the results.Enki wrote:The U.S Dollar is quickly losing its status as the world reserve currency. Five of the top ten economies in the world, plus a few others, no longer use the dollar as an intermediary currency for trade. This trend poses a huge risk to the dollar and the United States along with it.
Censorship isn't necessary
Re: Abandoning the Dollar
Yeah, destroys the country at .95 times the rate of a Republican.Mr. Perfect wrote:Elect a Democrat, don't be surprised at the results.Enki wrote:The U.S Dollar is quickly losing its status as the world reserve currency. Five of the top ten economies in the world, plus a few others, no longer use the dollar as an intermediary currency for trade. This trend poses a huge risk to the dollar and the United States along with it.
As bad as Obama is, he can't hold a candle to Bush.
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
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-Alexander Hamilton
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Re: Abandoning the Dollar
With Bush we had 6 good years, 2 bad years, the 2 bad years coming from Democrats. With Obama we've had 4 bad years working on infinity.
You live in an alternate dimension.
You live in an alternate dimension.
Censorship isn't necessary
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Re: Abandoning the Dollar
Bush: “I’ve abandoned free market principles to save the free market system”
It sounds even more stupid now that it sounded then, with Bush's Treasury secretary on his knees in front of Nancy Pelosi.
It sounds even more stupid now that it sounded then, with Bush's Treasury secretary on his knees in front of Nancy Pelosi.
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”
Teresa of Ávila
Teresa of Ávila
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Re: Abandoning the Dollar
Only to be outdone by various summers of recovery, jobs saved or created, "spending our way out of bankruptcy" and on and on and on as the largest intervention in our history has produced the weakest aftermath, and sealed our doom.
Thanks leftists.
Thanks leftists.
Censorship isn't necessary
Re: Abandoning the Dollar
I thought Adam Smith was the actor who played the lead in the movie I, Robot.Enki wrote:Adam SmithSimple Minded wrote:It about time.
Thank You.....er, em, I forget the name of the god of economics....
I was thinking about that other guy, Al Chemy....I don't think he is any relation to Dick.
Re: Abandoning the Dollar
yep, australia will stop paying its american money tax soon and join itself at the hip to china.Enki wrote:http://consciouslifenews.com/5-10-top-e ... r/1153333/
The U.S Dollar is quickly losing its status as the world reserve currency. Five of the top ten economies in the world, plus a few others, no longer use the dollar as an intermediary currency for trade. This trend poses a huge risk to the dollar and the United States along with it.
ZeroHedge points out today that Australia, the world’s 12th-ranked economy, has now joined a growing list of nations that have agreed to bypass the dollar in bilateral trade with China. China, ranked 2nd behind the U.S., also has similar agreements with Japan (3rd), Brazil (6th), India (9th), and Russia (10th).
Although unilateral agreements have been in place for some time between China and the countries listed above, last week the BRICs (Brazil, Russia, India & China) agreed to set up a development bank to compete with the IMF, indicating it’s gearing up to compete in a post-dollar world.
Additionally, Brazil, who agreed in principle to drop the dollar with bilateral trade with China some time ago, just made it official with $30 billion in annual currency swaps which will facilitate around 50% of all trade between them.
mayhaps the long discussed day of reckoning for the american dollar will be sooner rather than later.
ultracrepidarian
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Re: Abandoning the Dollar
all the proper modern economists know money is but an illusion and all you need to do is print more and more of it so that house prices keep going up.Mr. Perfect wrote:I expect Obama's popularity to go up.
the trick is creating enough government jobs that we all can get rich making houses cost more.. half the population doing the home improvements and the other half monitoring it for standards.
you is just an econommic dinosaur who believes in archaic nonsense, obama is riding the wave of the new prosperity, fighting the demons of austerity.
ultracrepidarian
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Re: Abandoning the Dollar
international currency should replace Dollar as reserve currency -- Bank of China
>> Issuing countries of reserve currencies are constantly confronted with the dilemma between achieving their domestic monetary policy goals and meeting other countries´ demand for reserve currencies. On the one hand,the monetary authorities cannot simply focus on domestic goals without carrying out their international responsibilities??on the other hand,they cannot pursue different domestic and international objectives at the same time. They may either fail to adequately meet the demand of a growing global economy for liquidity as they try to ease inflation pressures at home, or create excess liquidity in the global markets by overly stimulating domestic demand. The Triffin Dilemma, i.e., the issuing countries of reserve currencies cannot maintain the value of the reserve currencies while providing liquidity to the world, still exists. <<
>> Issuing countries of reserve currencies are constantly confronted with the dilemma between achieving their domestic monetary policy goals and meeting other countries´ demand for reserve currencies. On the one hand,the monetary authorities cannot simply focus on domestic goals without carrying out their international responsibilities??on the other hand,they cannot pursue different domestic and international objectives at the same time. They may either fail to adequately meet the demand of a growing global economy for liquidity as they try to ease inflation pressures at home, or create excess liquidity in the global markets by overly stimulating domestic demand. The Triffin Dilemma, i.e., the issuing countries of reserve currencies cannot maintain the value of the reserve currencies while providing liquidity to the world, still exists. <<
cultivate a white rose
Re: Abandoning the Dollar
Having an international currency replace the Dollar as the reserve currency would be very good for the U.S. economy.Mr. Perfect wrote:Elect a Democrat, don't be surprised at the results.Enki wrote:The U.S Dollar is quickly losing its status as the world reserve currency. Five of the top ten economies in the world, plus a few others, no longer use the dollar as an intermediary currency for trade. This trend poses a huge risk to the dollar and the United States along with it.
It sounds like you've never heard of the Triffin Dilemma.
Having the Dollar as the reserve currency essentially makes the Dollar our main export; like the Dutch Disease in that it crowds out other industries, only worse.
You can thank Nixon for closing the gold window. Elect a Republican and don't be surprised with the results.
cultivate a white rose
Re: Abandoning the Dollar
What is really messed up is that people need this piece of paper in order to begin acting. It's an insane spiritual prison that we live in.
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
-Alexander Hamilton
-Alexander Hamilton
Re: Abandoning the Dollar
I agree. People have taken on the mentality of finance capitalism, which has established a state of cultural hegemony, especially in the Anglosphere.Enki wrote:What is really messed up is that people need this piece of paper in order to begin acting. It's an insane spiritual prison that we live in.
Your preferred system of Distributionism (based upon the principles of Catholic social teaching, especially the teachings of Pope Leo XIII in his encyclical Rerum Novarum) would definitely be an improvement, with its emphasis on autonomy with coöperative action in free association, rather than finance capitalism's reification of green pieces of paper.
cultivate a white rose
Re: Abandoning the Dollar
its all part of that hazy ranting about the death of adulthood and the intellectual and moral lazyness of thinking life is solved and its someone elses fault you havent been told what to do... there is an expert for that (tm)
which is mostly why i dont get too caught up in my own political tastes - its just too sad to think about the amount of the population which reacts angrily when you suggest to them that their life is their problem and they should stop waiting for the knight in shining armour to save em from themselves.
cooperating with the people outside your door and getting things done is straight up natural for a traditional adult in a traditional community.. shame any political attempt to enable those aspects of a healthy society are themselves parodies of the original from specific personal viewpoints.
no matter - the dollar is being abandoned as the world is moving on past america now that the one thing you offered (many rich consumers) is fading.. step by step you can start on trying new things.
which is mostly why i dont get too caught up in my own political tastes - its just too sad to think about the amount of the population which reacts angrily when you suggest to them that their life is their problem and they should stop waiting for the knight in shining armour to save em from themselves.
cooperating with the people outside your door and getting things done is straight up natural for a traditional adult in a traditional community.. shame any political attempt to enable those aspects of a healthy society are themselves parodies of the original from specific personal viewpoints.
no matter - the dollar is being abandoned as the world is moving on past america now that the one thing you offered (many rich consumers) is fading.. step by step you can start on trying new things.
ultracrepidarian
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Re: Abandoning the Dollar
Who could ever argue with that. If a bigger government does the job it will just work better. If a small govenment messes it up a bigger government, a worldwide government will make it better.Azrael wrote: Having an international currency replace the Dollar as the reserve currency would be very good for the U.S. economy.
But one must ask, when STPN began they said this wouldn't happen. What changed i wonder? Anyone have any ideas?
BTW there is an international currency coming but it won't work quite like you are thinking (666).
Sounds like you've never read why Nixon ended the gold thing. Google "Nixon DeGaulle gold", let me know what you find out.It sounds like you've never heard of the Triffin Dilemma.
Having the Dollar as the reserve currency essentially makes the Dollar our main export; like the Dutch Disease in that it crowds out other industries, only worse.
You can thank Nixon for closing the gold window. Elect a Republican and don't be surprised with the results.
Censorship isn't necessary
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Re: Abandoning the Dollar
There are any number of countries you could move to and be free of it instantly. Why don't you do that I wonder.Enki wrote:What is really messed up is that people need this piece of paper in order to begin acting. It's an insane spiritual prison that we live in.
Censorship isn't necessary
Re: Abandoning the Dollar
Blame everyone but Nixon. How predictable.
The French government had every right to buy gold.
What are you? A communist?
And when did I demand world government? I didn't. Special Drawing Rights already exist.
The French government had every right to buy gold.
What are you? A communist?
And when did I demand world government? I didn't. Special Drawing Rights already exist.
cultivate a white rose
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Re: Abandoning the Dollar
I guess you didn't do the reading. I invite everyone else to do the reading.
How would you do "global currency" without global government?
How would you do "global currency" without global government?
Censorship isn't necessary
Re: Abandoning the Dollar
We already have a global government, might as well have a global currency right?Mr. Perfect wrote:I guess you didn't do the reading. I invite everyone else to do the reading.
How would you do "global currency" without global government?
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
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Re: Abandoning the Dollar
But would Jesus be any happier?
Don't worry, 666 was going to ushered in by someone, that's unavoidable. I guess it's you guys. What's that like? Preparing the way for the anti-christ and Satan. To me, I think it would give me pause. Do you like it, do you think it will work out in your favor, working for Satan?
Don't worry, 666 was going to ushered in by someone, that's unavoidable. I guess it's you guys. What's that like? Preparing the way for the anti-christ and Satan. To me, I think it would give me pause. Do you like it, do you think it will work out in your favor, working for Satan?
Censorship isn't necessary
Re: Abandoning the Dollar
I did. Perhaps you don't understand my response because you know so little about economics.Mr. Perfect wrote:I guess you didn't do the reading.
So do I. Then people will see how ignorant you are and laugh.I invite everyone else to do the reading.
I was not referring to a currency that private individuals spend at their local 7-11. I didn't say get rid of national currencies, such as the Dollar.How would you do "global currency" without global government?
You've obviously never heard of Special Drawing Rights (and yet you brag about how much you know about finance).
Special Drawing Rights already exist and can be used for international trade, international agreements, to denominate bonds, etc.
The fact that they exist doesn't make the Dollar, or the Pound, or the Euro or the Yen cease to exist or cease to be used.
And a world government isn't required, nor have I suggested it. The IMF defines and maintains Special Drawing Rights and already exists (since 1944).
The value of a SDR is defined by a weighted currency basket, so it would logically follow that it doesn't end national currencies in favor of the mark of the beast.
I'm sorry if this is over your head.
cultivate a white rose