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End of the US dollar as reservecurrency

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Post Thu Dec 13, 2012 7:58 pm
Rampager Grand Duke
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Most Americans have no idea what a tremendous advantage the United States possesses by having the primary reserve currency of the world, and most Americans also have no idea how close the U.S. dollar is to losing that status.
For the past 40 years, the vast majority of all global trade (including the buying and selling of oil) has been done in U.S. dollars.
That is still the case today, but things are starting to shift rapidly
All over the globe international agreements are being made to move away from the U.S. dollar and to use other currencies in global trade.
The second largest economy in the world, China, has been particularly aggressive in seeking to change the existing financial order.
China has been running all over the planet making agreements with other nations to start conducting an increasing amount of trade in currencies other than the U.S. dollar.
And of course the Chinese are heavily promoting their own currency – the renminbi. So why is this happening?
Well, for one thing, the truth is that the United States is not a superpower in the world anymore.
The Chinese economy is actually projected to become larger than the U.S. economy by 2016, and by some measurements the Chinese economy is already larger.
So Chinese leaders have been very open about the fact that they believe that it just doesn’t make sense that the vast majority of all global trade should continue to be conducted in U.S. dollars, especially considering the reckless money printing that the Federal Reserve has been doing turning US dollars into worthless "monopoly-money".
At a time when the status of the U.S. dollar is already slipping, QE3 is further deeply undermining confidence in U.S. currency.
And when the U.S. dollar does lose reserve currency status, the consequences for the United States are going to be absolutely catastrophic !
The days of the U.S. dollar being the sole primary reserve currency of the world are numbered, and when the dollar dies it is probably going to happen very rapidly.

DCRocks User avatar
Grand Duke
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Slogan: All that is necessary for evil to succeed is for good men to do nothing
The leading countries of the world will not switch to the Chinese system, until China fixes its artificially inflated currency value.

Until that happens, no world power will risk they capital in a currency that has a false value when compared to the rest of the world.
“If we don't believe in freedom of expression for people we despise, we don't believe in it at all.”

You have Enemies? Good. It means you've stood up for something in your life.

Rampager Grand Duke
Grand Duke

Posts: 836
Slogan: MISSION ACOMPLISHED 21-05-2014 (signed and sealed)
The USD has become nothing more than an unsecured liability of a bankrupt government, "monopoly" playmoney, printed out of thin air.

Pansi User avatar
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Slogan: Religion is the opiate of the people. Karl Marx
America and all things American have had their day.

It won't be long before it crashes and burns, not a day too soon.

They got too cocky with their invasions, thinking the rest of the world would keep looking the other way forever.

The US dollar will be worthless in a year or two.

DCRocks User avatar
Grand Duke
Grand Duke

Posts: 763
Location: Washington DC
Slogan: All that is necessary for evil to succeed is for good men to do nothing
Pansi wrote:
The US dollar will be worthless in a year or two.


You do realize, that if that occurs, it will also mean just about every other currency will be worthless, given how much the US is tied to the world economy.

China alone with be devastated, even with this artificially inflated currency value, if it suffered a loss of 400 billion a year in trade.

Also, I would not like to be the rest of the world (or those that America sees as enemies) when a military that is larger and more powerful than the next dozen nations COMBINED, decides it has to fight (all out) for the US to survive.

It never ceases to amaze me, how many think the US can fall, and the rest of the world will somehow survive it. If that occurred, it will be the first time in the history of humanity that the fall of the world's most powerful military, didnt bring global chaos.
“If we don't believe in freedom of expression for people we despise, we don't believe in it at all.”

You have Enemies? Good. It means you've stood up for something in your life.


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