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Old Yesterday, 05:37 PM
 
23,826 posts, read 12,562,558 times
Reputation: 7607

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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.
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Old Yesterday, 05:53 PM
 
Location: Metro Detroit, Michigan
12,763 posts, read 14,129,634 times
Reputation: 13600
Umm no, the world needs more gold backed currencies that are actually backed by something beside good intent.
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Old Yesterday, 05:55 PM
 
Location: Prepperland
13,847 posts, read 9,944,540 times
Reputation: 9996
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.
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Old Yesterday, 05:56 PM
 
16,291 posts, read 4,282,927 times
Reputation: 11480
Quote:
Originally Posted by andywire View Post
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.
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Old Yesterday, 05:57 PM
 
Location: Sonoran Desert
29,534 posts, read 40,044,637 times
Reputation: 18943
Quote:
Originally Posted by andywire View Post
Umm no, the world needs more gold backed currencies that are actually backed by something beside good intent.
Like a hunk of metal.
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Old Yesterday, 06:05 PM
 
11,529 posts, read 7,438,428 times
Reputation: 4683
Quote:
Originally Posted by andywire View Post
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?
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Old Yesterday, 06:08 PM
 
30,216 posts, read 16,665,284 times
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And watch the us imperial empire fall
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Old Yesterday, 06:22 PM
 
9,901 posts, read 2,431,150 times
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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.
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Old Yesterday, 06:52 PM
 
287 posts, read 184,128 times
Reputation: 390
Quote:
Originally Posted by craigiri View Post
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.
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Old Yesterday, 06:53 PM
 
7,639 posts, read 2,727,710 times
Reputation: 2994
Quote:
Originally Posted by bertwrench View Post
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.
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