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The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world's reserve currency. The IMF said Special Drawing Rights, or SDRs, could help stabilize the global financial system.
Originally posted by bulletproof_monk
Wouldn't this make the dollar stronger though? If the dollar isn't the reserve currency, then they can't just keep printing more and more money, and therefore cause inflation? Please correct me if im wrong, im a little ignorant on this subject
Originally posted by Fenix777
reply to post by dasysgod
I might get stoned for this, but I actually think this is excellent news. Sorry, but that's just what I think. I think the U.S. is in way too much debt, and the dollar is crashing anyway, whether or not this happens. It's unstable and for the U.S. to get out of their current predicament, some serious changes would have to be made. If this happens, it just might force them to make those changes and stop just continuously making more debt. Just like with any business you've got to draw the line somewhere at where the point of no return is. Like a company that has to decide, ok, you know what, we can not afford to make any more debt, it's time to sell out, or close the doors, and try and scratch together what you can to start again, this is the point that the U.S. dollar has reached.
This might not be what America wants, but what America wants and what's best for the world, is evidently two different things. An unstable currency with the amount of power that it yields, is dangerous to the rest of the world. The U.S. owes too much, and maybe, just maybe, this move, will help you guys recover, if the pressure of what your currency carries, gets taken of it's shoulders, just might be what it needs.
It's just an opinion, a thought, please don't stone me *runs and hides in corner*edit on 11-2-2011 by Fenix777 because: ETA
People need to do themselves a favor and get and read Ron Paul's book "End The Fed" and educate yourselves.