posted on Jun, 27 2011 @ 05:32 PM
The US dollar will lose its status as the global reserve currency over the next 25 years, according to a survey of central bank reserve
managers who collectively control more than $8,000bn.
More than half the managers, who were polled by UBS, predicted that the dollar would be replaced by a portfolio of currencies within the next 25
That marks a departure from previous years, when the central bank reserve managers have said the dollar would retain its status as the sole reserve
Link to article on Financial Times here
Out of respect for FT and their copyright policy which allow you to: share links; copy content for personal use; & redistribute limited extracts, I
quote just part of the article above. The article goes on to say that the same reserve currency managers predict that gold will be the best performer
in years to come due to sovereign debt crises "citing sovereign defaults as the chief risk to the global economy."
Twenty five years is a long time, but as the article states, this is a change of direction from previously held views on the status of the USD as the
world's reserve currency, and it doesn't take into account other possible unforeseen factors that could hasten the USD reserve currency status'
demise, such as further global economic and financial turmoil, further devaluing of the USD among other countries with vested interests, other
countries collaborating to trade with their own currencies, China's diversification away from the dollar and acknowledged dissatisfaction with the USD
- among others. Some of these points are raised in the article as well, but not as reasons why the reserve managers have expressed a change in view re
the USD reserve status.
has a link to the article should you wish to read it in its entirety.
edit on 27-6-2011 by surrealist because: (no reason given)