Mark Carney -- Governor of Bank of England -- World needs new reserve currency. (Iran, Obama)

[moneill]

Bank of England Governor Mark Carney said the world’s reliance on the U.S. dollar as a reserve currency is too risky and proposed a new digital currency to replace it.

https://www.cnbc.com/2019/08/23/bank...the-world.html

Now that's a new concept.

I don't think they have ever talked about the instability of the USA dollar before.

WOW.

This isn't something to happen in the short term....but it shows how other countries are changing views on the USA and its role in the world.

[andywire]

Umm no, the world needs more gold backed currencies that are actually backed by something beside good intent.

[jetgraphics]

Any medium of exchange that is supposed to facilitate the trade of goods and services NOT ISSUED by those producers of goods and services is a SCAM to rob producers, no matter who emits them.

[craigiri]

Originally Posted by andywire

Umm no, the world needs more gold backed currencies that are actually backed by something beside good intent.

That's not going to happen - but Trump is teaching the world a long term lesson - never rely on anything the USA says. Not treaties...not promises...nothing.

I think the world is getting the hint. But most Trumpies do not care. Yet.

[Ponderosa]

Originally Posted by andywire

Umm no, the world needs more gold backed currencies that are actually backed by something beside good intent.

Like a hunk of metal.

[Winter_Sucks]

Originally Posted by andywire

Umm no, the world needs more gold backed currencies that are actually backed by something beside good intent.

Why not sand or tree bark? What’s the difference?

[Frank DeForrest]

And watch the us imperial empire fall

[Hesychios]

World needs new reserve currency.

That could work out to our advantage.

Nations all over the world are hoarding dollars, which makes it stronger. If they would start releasing those dollars the currency would weaken and our goods would be more attractively priced.

Of course we would lose out on some other benefits to being the world's reserve currency.

[bertwrench]

Originally Posted by craigiri

That's not going to happen - but Trump is teaching the world a long term lesson - never rely on anything the USA says. Not treaties...not promises...nothing.

I think the world is getting the hint. But most Trumpies do not care. Yet.

Not a huge fan of Trump but from my perspective he is telling the world the US will no longer be taken advantage of. Every treaty he has pulled out of the other party is some shape or form was already breaking or not holding up their end of the deal.

[vacoder]

Originally Posted by bertwrench

Not a huge fan of Trump but from my perspective he is telling the world the US will no longer be taken advantage of. Every treaty he has pulled out of the other party is some shape or form was already breaking or not holding up their end of the deal.

Not true. Every source said Iran was upholding their end of the bargain. Trump ripped it up because Obama signed it.