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Whats going to happen to the dollar as world currency.. or are they going to??? I can see the stck market taking!!!
Quote:
SHANGHAI -- Representatives from 57 countries have attended a signing ceremony in Beijing for the founding of the new Asian Infrastructure Investment Bank. The institution, designed to promote regional development, has been seen as a significant foreign policy success for China, which proposed the idea. It has also become something of an embarrassment for the U.S., which announced early on that it would not be joining, only to discover that many of its allies had no such qualms.
The US has been wagging its hypocritical finger in the face of China more than usual as of late. This was a fine example. It's quite sad watching the US behave like a scared, withering empire in decline. At the same time, our economy has been one of the few bright spots around the world for several years now. Makes you wonder if our ability to borrow on credit is a blessing, or a curse. After all, if we were to ever default, it would be China holding the bag.
Its always the end of the word, end our economy and we are always on the brink. I hardly think I am gong to clime in a hole and live on MREs. I have heard this for the last 40 years.
Its always the end of the word, end our economy and we are always on the brink. I hardly think I am gong to clime in a hole and live on MREs. I have heard this for the last 40 years.
40 years.... so tell me in your 40 years has the federal deficit been the same?
Is the operating cost of the Corporate US of A grown? what about its tax base?? can they still get the same amount of taxes from its members to cover costs? I think Lube is going to be needed as there is no way in hell the US will pay the federal deficit back.. They are not even concerned about it too...
Its always the end of the word, end our economy and we are always on the brink. I hardly think I am gong to clime in a hole and live on MREs. I have heard this for the last 40 years.
In the scheme of international finance 40 years is nothing.
By the end of the 20th century, the United States dollar was considered the world's most dominant reserve currency, and the world's need for dollars has allowed the United States government as well as Americans to borrow at lower costs, granting them an advantage in excess of $100 billion per year. However, the U.S. dollar's status as a reserve currency, by increasing in value, hurts U.S. exporters.
In the event that non-United States holders of dollar-denominated assets decided to shift holdings to assets denominated in other currencies, there could be serious consequences for the US economy and foreign policy.
The dollar's role as the undisputed reserve currency of the world allows the United States to impose unilateral sanctions against actions performed between other countries, for example the American fine against BNP Paribas for violations of U.S. sanctions that were not laws of France or the other countries involved in the transactions. In 2014 Beijing and Moscow signed a 150 billion yuan central bank liquidity swap line agreement to get around American sanctions on their behaviors.
Special drawing rights.
Some have proposed the use of the International Monetary Fund's (IMF) special drawing rights (SDRs) as a reserve.
China has proposed using SDRs, calculated daily from a basket of U.S. dollar, euro, Japanese yen and British pounds, for international payments.
On 3 September 2009, the United Nations Conference on Trade and Development (UNCTAD) issued a report calling for a new reserve currency based on the SDR, managed by a new global reserve bank. The IMF released a report in February 2011, stating that using SDRs "could help stabilize the global financial system."
The push is on to make SDR the world currency. Welcome to one world government where you have one world currency. Cash will be obsolete and replaced with a chip. IMF and World Bank will be your master and control the chip.
A king is born. Long live the King !!!
By the end of the 20th century, the United States dollar was considered the world's most dominant reserve currency, and the world's need for dollars has allowed the United States government as well as Americans to borrow at lower costs, granting them an advantage in excess of $100 billion per year. However, the U.S. dollar's status as a reserve currency, by increasing in value, hurts U.S. exporters.
In the event that non-United States holders of dollar-denominated assets decided to shift holdings to assets denominated in other currencies, there could be serious consequences for the US economy and foreign policy.
The dollar's role as the undisputed reserve currency of the world allows the United States to impose unilateral sanctions against actions performed between other countries, for example the American fine against BNP Paribas for violations of U.S. sanctions that were not laws of France or the other countries involved in the transactions. In 2014 Beijing and Moscow signed a 150 billion yuan central bank liquidity swap line agreement to get around American sanctions on their behaviors.
Special drawing rights.
Some have proposed the use of the International Monetary Fund's (IMF) special drawing rights (SDRs) as a reserve.
China has proposed using SDRs, calculated daily from a basket of U.S. dollar, euro, Japanese yen and British pounds, for international payments.
On 3 September 2009, the United Nations Conference on Trade and Development (UNCTAD) issued a report calling for a new reserve currency based on the SDR, managed by a new global reserve bank. The IMF released a report in February 2011, stating that using SDRs "could help stabilize the global financial system."
The push is on to make SDR the world currency. Welcome to one world government where you have one world currency. Cash will be obsolete and replaced with a chip. IMF and World Bank will be your master and control the chip.
A king is born. Long live the King !!!
great post
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