IMF Chief Proposes New Reserve Currency to Replace Dollar

[Lojanica]

Quote from endsongs:

This theory of constantly comparing US to countries that are deeply in financial trouble, in order to make us look good by comparison, is just about played out. Instead of comparing the US to Zimbabwe, Greece, or other countries near financial ruin, try contrasting our situation with Brazil, India, China, or Norway for a change.

I am a trader. I am interested in the flow of money. I tried to provide some background information to fill out the discussion. I welcome your analyses of these other countries. It would help everyone understand the money flows. Rather than just take issue please add to the discussion. I can add more but then it will just come off as ranting and that is not my intent.

Let me reiterate. My intent is to understand the international money flows but with facts not just politicized agendas such as DSK offers with this headline. DSK is the head of a very political albeit small financial organization and possible future President of France as well as a Socialist. Do you think he has an agenda. Perhaps in his bid for Presidency he can use anti-Americanism and the USD exchange rate as a tool for election. Is that possible?

I am open to discussion.

 

[Lojanica]

Quote from Lethn:

I'm just going to stop your rant and say I hate Europe and the U.K as well

I have very strong European roots. See above post. I am only trying to discuss objectively the world moneyflows and apologize if I wandered off base. I would like facts and well thought out discussion. In all my cycnicism I hope to bring and gain some understanding so that I and those involved can navigate these trying financial waters.

Cheers

 

[Lethn]

Which is why I'd say check out the history of the German Depression. You'll find some good sources there and I believe that is basically what is going to happen to the U.S if they try to keep printing money and what will happen to all the other countries as well if they default. Will this bring about good change? Who knows? I'm certain there are plenty of people who would hate to see another Nazi germany spring up but when ignorance and desperation are combined it won't be pretty because many people still don't even know the way the banking system actually works.

 

[jem]

Do you realize how significant this is?


You liberal fools still thing the conspiracy guys are nuts?

Remember the plan they have been warning about....


1. spend like crazy and bind the citizens with massive government debt.

2. take down financial grid ( we are only part way there)

3. Crushing taxes.

4. devalue U.S. assets

5. spend more

6. offer world one currency in exchange for debt.

7. loss of sovereignty

8. all transaction become highly controlled with digital currency and massively taxed.
-----

speculation

9. no business without the mark.

 

[Lojanica]

Quote from jem:

Do you realize how significant this is?


You liberal fools still thing the conspiracy guys are nuts?

Remember the plan they have been warning about....


1. spend like crazy and bind the citizens with massive government debt.

2. take down financial grid ( we are only part way there)

3. Crushing taxes.

4. devalue U.S. assets

5. spend more

6. offer world one currency in exchange for debt.

7. loss of sovereignty

8. all transaction become highly controlled with digital currency and massively taxed.
-----

speculation

9. no business without the mark.

Thank you for making the point I was unable to make so clearly!!!

 

[schizo]

Even though there's a striking similarities, unlike the Weimar Republic, if the hyperinflation hits USA it will become a world pandemic that will soon spiral out of control.

Quote from Lethn:

Which is why I'd say check out the history of the German Depression. You'll find some good sources there and I believe that is basically what is going to happen to the U.S if they try to keep printing money and what will happen to all the other countries as well if they default. Will this bring about good change? Who knows? I'm certain there are plenty of people who would hate to see another Nazi germany spring up but when ignorance and desperation are combined it won't be pretty because many people still don't even know the way the banking system actually works.

 

[jficquette]

Can't have a world currency unless its backed by a world government.

World government is the real objective. Currency issue is a smokescreen.

Never let a good crisis go to waste.

 

[schizo]

Quote from jficquette:

Can't have a world currency unless its backed by a world government.

World government is the real objective. Currency issue is a smokescreen.

Never let a good crisis go to waste.

Well, who holds most of our debt? Yes, they will become the de-facto "world government". When the time comes for them to collect their money, the last thing they'll want is to be paid back in greenback.

Which leads me to wonder whether they will eventually SECURITIZE the mounting debt in the open market. Remember that term? Like the CDOs, they could repackage all the sovereign debts and sell them to the public. Hey, how's that for a deal?

 

[TraderZones]

Quote from endsongs:

try contrasting our situation with Brazil, India, China, or Norway for a change.

India and China still have massive amounts of excessively poor dirt farmers. They are growing because of the western economies that suck up their products and services. If we stopped importing, where would their economies be?

Norway? Why not just use a mushroom instead? They are about the same size.

 

[Lojanica]

Quote from TraderZones:

India and China still have massive amounts of excessively poor dirt farmers. They are growing because of the western economies that suck up their products and services. If we stopped importing, where would their economies be?

Norway? Why not just use a mushroom instead? They are about the same size.

Norway derives a good chunk of their revenue from oil reserves not unlike the Middle East and are an unfair skewed economy given their size and natural resources....
but much of Norway's economic growth has been fueled by an abundance of natural resources, including petroleum exploration and production, hydroelectric power,

India, China, and Brazil---They are far from world powers with the exception of the hordes....

Like I said before there is a sh$tstorm brewing here....

Obama should be learning from Norway and realize the way out is through energy independence....