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U.N. says scrap dollar as main global reserve currency

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    U.N. says scrap dollar as main global reserve currency

    http://caffertyfile.blogs.cnn.com/20...erve-currency/

    This is what you get when you refuse to curb your debt.

    The United Nations says it's time to scrap the dollar as the main global reserve currency. The U.S. dollar has for years been the currency of choice in troubled times - a safe haven when uncertainty arises.

    But a new report by the U.N. suggests the dollar has become unreliable and needs to be replaced with a more stable system.

    Many countries - especially in Asia - have been building up massive dollar reserves. But because the dollar has begun to fluctuate much more recently, these countries' currencies have become undervalued - which makes it harder for them to import goods.

    The UN is backing a proposal which would replace the dollar with a basket of currencies. The report says a new reserve system should not be based on a single currency in order to create more stability in the global financial system.

    Russia and China have already said they support creating a new reserve currency system... as does the International Monetary Fund.

    But not everyone is so sure this is such a good idea. Some European officials suggest it should be the market, not politicians, which determines which currencies countries buy for reserves.

    There's been increased debate about using the dollar for international trade ever since the U.S. economy slumped into a recession.

    Unless and until something definitive is done about our $13 trillion dollar national debt and skyrocketing federal deficits, the future of the almighty greenback is very much in doubt.
    Don't worry about the guns, send lawyers and money.

    “The hardest thing to explain is the glaringly evident, which everyone has decided not to see.”
    Ayn Rand

    #2
    Re: U.N. says scrap dollar as main global reserve currency

    i see, the UN wants to make it easier to make counterfit money !!!
    A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.

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      #3
      Re: U.N. says scrap dollar as main global reserve currency

      call me what you want, I see the hand of George Soros on this one and right on target with Obama supporting his "globalization" scheme.....

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        #4
        Re: U.N. says scrap dollar as main global reserve currency

        NEW WORLD ORDER
        Certified Armed Infidel


        “Those who make peaceful revolution impossible, make violent revolution inevitable.” John F. Kennedy.


        John Bernard Books: I won't be wronged. I won't be insulted. I won't be laid a-hand on. I don't do these things to other people, and I require the same from them. Words to live by.

        The purpose of the pistol is to stop a fight that somebody else has started, almost always at very short range.-Jeff Cooper

        11,997 posts on the original Bersa Talk Still the King on total posts.

        "Just say "Lay A Way"

        "WWJBD" What Would James Bond Do?

        SECURE our borders ,DEPORT all illegals STOP IMPORTATION OF HOMELESS MUSLIMS



        TIME TO TAKE BACK AMERICA !

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