Monday, March 23, 2009

First Shots Fired In The Currency Wars

The excesses of the Bush II regime which invaded other sovereign nations, ransacked the economy, and let fellow Americans perish during Katrina, are continuing to have dire consequences.

Our reputation has been damaged more so than at any other time in history.

Trust in the United States is at an all time low, and the new administration is struggling with the wasteland left behind by the Bush II era robber barons.

Mistrust of our economic prowess goes along with the other mistrust that has grown against us.

Now, another little noticed attack has been levelled at us, in that, there is a movement afoot to remove the dollar as the world's currency:
China’s central bank governor has issued a bold proposal to overhaul the global monetary system and one day replace the dollar as the world’s main reserve currency with the International Monetary Fund's (IMF) Special Drawing Right
(Times Online, or here). This is no light matter and it could snowball into something we are not well equipped to deal with at the moment.

It is not like we don't have two wars, an economic crisis, an environmental crisis, and a politically divided nation to deal with.

1 comment:

  1. > "one day replace the dollar as the world’s main reserve currency with the International Monetary Fund's (IMF) Special Drawing Right"

    This is all but a certainty. Japan is the only stand-alone.

    The USA have no position.

    This is "the New American Reality." (pun intended.)


    One wouldn't know this is happening, if one relies on American Propaganda Media.

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