Comments on: New Reserve Currency Threatening the Dollar Again

By: Joe Nathan

Joe Nathan — Tue, 22 Mar 2011 00:27:31 +0000

I believe the quote is “The LOVE of money is a root of all kinds of evil.” (1st Timothy 6:10)

By: sadasivan

sadasivan — Wed, 09 Mar 2011 00:20:09 +0000

I do not trust International bodies as the agenda is One World Totalitarian Government.Individual Nations are the Masters of their Currencies.Honesty is the most important factor which is lacking among the International bankers.
I still favour a basket of strong Currencies as the Reserve one.

By: Ron Willison

Ron Willison — Fri, 11 Feb 2011 05:26:18 +0000

Hate to rain on your parades people. The fact is the FIAT monetary system of world government is on its death bed. Mother Earth says so. They are trying to prop it up for one more run and land grab. In a nut shell it goes like this. Fiat money requires consumerism, which requires exponential population growth, which requires unlimited natural resources to maintain. Mother Earth says. Nada. Can’t do it. Can only make more so fast. The current civilization has learned nothing from previous civilizations. And those that have perpetuated the fiat monetary system of population control know this. Are as sick and evil as their fathers and forefathers going back in time tens of thousands of years. There is a reason for the saying. “MONEY IS THE ROOT OF ALL EVIL” It is.

By: Bruce

Bruce — Wed, 12 Jan 2011 08:51:08 +0000

Why does everyone forget the massive role that the unparalleled depth and liquidity of US financial markets plays in the dollars status as a reserve currency? Governments hold their reserves in dollars because it is the most liquid currency in the world, and therefore facilitates international payments far more efficiently than its closest competitors (Yen and Euro). The only other currency in terms of international economic significance is the Chinese Yuan, but until it is allowed to free float, it is entirely unsuitable as reserve currency. The creation of a new currency specifically for reserve status would take decades to achieve the depth and liquidity of trade to match the dollar’s efficiency in facilitating large scale transactions transactions.

By: adi farid b.asmaon

adi farid b.asmaon — Mon, 08 Nov 2010 09:48:24 +0000

i still believe that the international cuurency reserves that is in dollar should be maintain n actually the new upcoming politics-economic in any region anywhere globally inadvertantly would gain-consume from such depedency n creating new reserve currencies would put the global markets back to hundreds years of pain n sweats of taking the markets where it is now;just think that we do have the global markets for gold n oil as such like the Nymex comidity n so on n the solution is that put the wealth to the normal human beings!

By: patrick

patrick — Sat, 23 Oct 2010 13:07:51 +0000

There are some large economies: the EU and China obviously.

The RMB has issues, as it is overly state controlled (though that is changing).

The US did not take the role, after WW2 the US had an obscene 52% of global economy. There was not other possible choice.

By: tisilto

tisilto — Sun, 17 Oct 2010 05:05:22 +0000

The U.S. is walking away from democracy. What we see today is a two-headed dictatorship becoming every time stronger. This dictatorship is the puppet of the richest people of the country, i.e., U.S. stopped working for the good of the country a while ago, so the U.S. economy is largely at risk. Those seeing the U.S. economy as “stable” are dreaming or living in the past…
So, in terms of a reserve currency, I will ask first: Do we need a reserve currency? The U.S. is the de-facto reserve currency of the world but the U.S. is indebted (As of October 10, 2010, the “Total Public Debt Outstanding” was approximately 94% of annual GDP, ($13.616 Trillion) Wikipedia) and walking away and away from democracy. I do not think the U.S. can maintain this situation anymore.
Also, if a country has its currency as the reserve currency for the rest of the world, it gives this country an advantage when dealing with other countries. Why do think the U.S. took the role of having the reserve currency in the first place????
So, I think we have to move away from this scheme and I would fully support an independent currency. Although this is very difficult to do but it is completely doable.

By: Will the US Economy Fall Alone? | Forex Crunch

Will the US Economy Fall Alone? | Forex Crunch — Tue, 24 Aug 2010 14:37:07 +0000

[…] are already talks about the US being bankrupt, but these were dismissed. Also the talks about a new world reserve currency that will replace the greenback were forgotten, especially after the European debt issues […]

By: Roland Buck

Roland Buck — Fri, 02 Jul 2010 11:36:39 +0000

“could hurt the dollar’s comeback”

At a time when the U.S. economy is depressed, the dollar’s comeback is one of the worst things that could have happened to the U.S. economy. The increase in the value of the dollar internationally makes U.S. goods less competitive relative to foreign goods, both at home and abroad. Not only are U.S. exports hurt, but it becomes more difficult for domestic firms to compete with foreign competitors in the U.S. market. These factors will further slow the growth of the U.S. economy and keep the unemployment rate high.

By: Julie in Austin

Julie in Austin — Mon, 21 Jun 2010 12:47:09 +0000

A “reserve currency” that is from an “international body” will be a disaster.

The “reserve currency” needs to be from a sufficiently large economy that is stable. That narrows it down to … the dollar.