posted on May, 4 2011 @ 04:33 AM
reply to post by atsmem1980
What is being suggested, is that there will be a basket of multiple currencies (including the EUR, Yuan, Russian Ruble and Indian rupee). The US was
not even invited to discuss this new basket of world reserve currencies. The US on the other hand, plans a single new world currency to replace the
dollar. Well, in fact it is the IMF that pursues so, but we all know the IMF is merely a US/Fed tool. The US government would of course, via the IMF,
resume control over that new world currency.
Understandably, the rest (except for the US and Saudi Arabia) pass for the latter option. Americans (with all due respect) have enjoyed the luxury and
monopoly position of not having to create economic output for dollars, which can subsequently be used for trading oil at the expense of the rest of
the world (which does need to produce economic output, which it trades for dollars that are exclusively used for OPEC oil trade).
In other words, we - the world - are keeping US inflation low (but obviously there's a limit to everything and that limit is soon to be reached) and
we are not going to give America this luxury another five decades.
Although the US has played out the aftermath of WWII extremely well, the US is going bankrupt as soon as it loses the dollar hegemony.