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What Will Replace The US Dollar?

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posted on Jun, 20 2012 @ 04:23 PM
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The World Economic Forum has reported that the mainstream view is that we're headed toward a world reserve currency basket, explaining: "The widespread view is that the world is moving toward a multi-polar currency system based on the euro, dollar, and yuan, but each of these currency areas faces the need for significant internal adjustments that constrain their future international roles."

seekingalpha.com...
The only reason we are moving to a 'basket system is because the US ignores calls to do the right thing and agree to discuss an alternative Reserve Currency. The big question is where will Europe turn when the Euro falls apart? Unless a puppet is in power, a nation like Greece is not going to stick with the US and I dont think many other nations will either. The Central Bank of Qatar in oil-rich Gulf region expressed concern over linking its currency to the USD just the other day. The whole world is turning on the US. So what will replace the dollar? What do we look for?


Criteria for Reserve Currencies

-The main attributes of reserve currencies, from the first link and source listed at the start of his article, are:
-A large economy for currency user stability and options.
-Reserves are held with currencies used for major transactions or trades.
-Liquidity across financial instruments with large markets.
-Fiscal and monetary policies guaranteeing low inflation expectations.
-Reliable rules and code framework for stability.
-Strategic purposes.

China is the obvious choice. China is the only nation with a legitimate claim to the Reserve Status.



In a new Brookings Institution study, Eswar Prasad and Lei Ye of Cornell University say China’s currency will become an international reserve currency within the next decade


blogs.wsj.com...

The implications for investors should be fairly simple: be prepared for the general decline of the dollar, and expect the long-term fiscal leeway the US has to disappear. Eventually, we won't be able to abuse our "reserve status" like it's some sort of huge low-interest credit card.

The guy is wrong about the 'general decline'. The decline will be sharp and rapid. I am sick of the US being allowed long term fiscal leeway. They have abused the privilege that they bestowed upon themselves. I am sick of the US abusing their Reserve Status like its some sort of huge low-interest credit card. The US has a systematic malfunction in government. The US is dysfunctional and irresponsible. The US has failed as superpower. They will lose the Reserve Status within just four short years.

Four more years. At best.

So I think China will take the Reserve Status. It is possible that China will come up with something between themselves and the BRICS and we will have a semi-basket reserve. In my opinion, the reserve we be controlled by the East whetever it turns out to be.
I do not think we should have to wait two or three years for the US to lose the power of the reserve. I think that it should be an issue right now.
edit on 20-6-2012 by Germanicus because: (no reason given)




posted on Jun, 20 2012 @ 04:26 PM
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reply to post by Germanicus
 



What Will Replace The US Dollar?


Shiny rocks.

Maybe a spear.

'bout the most honest answer I can give.



posted on Jun, 20 2012 @ 04:29 PM
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reply to post by beezzer
 


Ha!

The whole bitcoin thing seems like a good idea. We need something that nobody is in control of.



posted on Jun, 20 2012 @ 04:32 PM
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Originally posted by Germanicus
reply to post by beezzer
 


Ha!

The whole bitcoin thing seems like a good idea. We need something that nobody is in control of.


Wrong! My Chinese-loving friend.

Country's are going to go back to the barter system. People are. When the Euro/Dollar collapses, trade is going to go midieval.



posted on Jun, 20 2012 @ 04:34 PM
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reply to post by Germanicus
 



What Will Replace The US Dollar?
How about we go back to, the Dollar, the U.S. Constitutional Dollar!



posted on Jun, 20 2012 @ 04:37 PM
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I believe the conspiracy theorists were right all long. What will replace the dollar? Digital Currency.

This has been brought up in another thread, but to answer your question, The Royal Canadian Mint has released an official video presentation of what they are calling, "MintChip".



Pretty scary stuff if you ask me



posted on Jun, 20 2012 @ 04:39 PM
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watch for Gold backed Islamic Dinars
and asset backed monetary units from Russia, Brazil, S. Africa,
India... and Hong Kong and the members of the Shanghi cooperative to get in on the 'new' asset/gold backed currencies which replace the USD=Petro Dollar



posted on Jun, 20 2012 @ 04:40 PM
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Let me blunt about this: the dollar bill be replaced by seashells, gold trinkets, bullets, and alcohol. It'll be a basket of currencies alright.



posted on Jun, 20 2012 @ 04:46 PM
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Originally posted by beezzer

Originally posted by Germanicus
reply to post by beezzer
 


Ha!

The whole bitcoin thing seems like a good idea. We need something that nobody is in control of.


Wrong! My Chinese-loving friend.

Country's are going to go back to the barter system. People are. When the Euro/Dollar collapses, trade is going to go midieval.


Cool. I liked the look of Barter Town in Mad Max 3. I wonder if we wil have thunderdomes and clever midgits that ride around on big dumb guys backs.
edit on 20-6-2012 by Germanicus because: (no reason given)



posted on Jun, 20 2012 @ 04:53 PM
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Will you be arguing with anybody that doesn't say the Chinese Yuan in this thread?

I don't know personally, as there hasn't been anything purposed or discussed in regards to replacing the Dollar as reserve currency, at least i haven't seen any,

It certainly wont be the Yuan tho



posted on Jun, 20 2012 @ 05:03 PM
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Originally posted by TritonTaranis
Will you be arguing with anybody that doesn't say the Chinese Yuan in this thread?

What is that supposed to mean? Is that code for, you are an anti-american hate filled nazi shill troll that works for the Chinese Government?


The Reserve is an important topic. And it is logical and backed up by studies that China will take control of the reserve. I think China will go the way of Isreal and go with a front. China will defer to the BRICS but control/direct things with their political might and power with no responsibility.

And as I said, my preference is a reserve that does not give one country a free ride. Something like bitcoin or some kind of global reserve. America has an unfair advantage over the rest of the world. The US government have proven to be dysfunctional. The US government spits in the face of the world by refusing to stop the overspending. The US government spits in the face of the world by refusing to address National Debt. China warned them after the US suffered their humiliating Credit Downgrade that they must be responsible. They are out of control.
edit on 20-6-2012 by Germanicus because: (no reason given)



posted on Jun, 20 2012 @ 05:19 PM
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Sorry...couldn't resists. The bitcoin thing is interesting...how to keep it safe though?



posted on Jun, 20 2012 @ 05:26 PM
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A bitcoin-like currency would be ideal.

The Yuan is a poor candidate for a global reserve because the Chinese government manipulates its value far too much, as it suits them. The US leverage the Dollar reserve status, you bettcha, but it is child's play compared with what the Chinese would pull. If the Yuan is ever the reserve, it will be for a few years at best till people realize it is just another form of economic warfare, this time for the Chinese.

And your call in that other thread that the it would have been the AUD is also absurd, lol.

If anything, it would be a successor to the Euro, which would encompass the entire west... that is the only thing I could see the market accepting, but that assumes a powerful amount of integration of governments I don't see happening soon, unless the collapse forces us into it somehow.

It will be digital credits, or gold, or some such. At least till we hit full-blown nanotech, then things might change as the value of base materials changes drastically at that point (not because we could easily make gold, that would still take nuclear reactions, but because any material that has special properties could be replaced by a special crystaline structure that outperforms its natural counterparts).



posted on Jun, 20 2012 @ 05:34 PM
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reply to post by BobM88
 


Yeah. Maybe anonymous would run it for us.



posted on Jun, 20 2012 @ 07:40 PM
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reply to post by BobM88
 


going off from your post...& the bit-coin post


there's the introduction of plastic (mylar) monies:
news.investors.com...


Canada will be putting their Twenties into circulation this summer



posted on Jun, 20 2012 @ 07:48 PM
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The Amero.



posted on Jun, 20 2012 @ 09:26 PM
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The Deutschmark. China will never be the reserve currency so long as they have a Communist government which controls all of the money and banking. No free country in their right mind would agree to that. Add to that the fact that their own real estate bubble is set to burst (or bursting, depending on who you ask) and it's further complicated by their "public collective property" laws. They are strong at the moment because they're in that sweet spot between being industrialized but not having the public demand for higher wages and a better standard of living yet, therefore they can export like a powerhouse but pay like a slave driver. This will not last, and China's middle class must necessarily catch up to their progress, and that will possibly wreak havoc on their economy while it stabilizes. It's obvious they've got very big black clouds hanging overhead that have not been dealt with, and that will further prevent them from becoming a GRC.

The DMark (or some form of technically-Euro-but-only-used-by-Germany-and-backed-by-gold) is really the only currency that makes sense, as they have the only economy (presently) to support it and the proven track record of making conservative decisions on their monetary policy that is needed to invest confidence in a new GRC. There's just not an overall stronger candidate at the moment, and while Bitcoin is intriguing and promising, it needs to be introduced as a common currency to begin with before anyone will accept it as a new GRC. Very few have even heard of it yet.



posted on Jun, 20 2012 @ 09:29 PM
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Ammo & Whiskey



(basic farming tools are a close 3rd)




posted on Jun, 20 2012 @ 10:05 PM
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Dear Germanicus, I don't think you realise that if the dollar collapses, it will effect the entire World. My advise to you is to buy things that you can barter with, small bottles of whiskey, cigarettes, ammunition, et cetera. This is inevitable. I recently watched a video ( on David Icke maybe?) titled the top 5 places not to be when the dollar collapses, 1. ISRAEL, 2. GREAT BRITIAN, 3. SOUTHERN CALIFORNIA, 4. NEW YORK CITY AND NUMBER 5 WASHINGTON, D.C.

Get ready old buddy! So stock up on cases of Foster's Lager and Kangaroo jerky cause it will be tough to get used to, but later It will be a great life. No banks, No corporations, No governments, No Gods and No Masters. PEACE



posted on Jun, 20 2012 @ 10:11 PM
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Originally posted by AnIntellectualRedneck
Let me blunt about this: the dollar bill be replaced by seashells, gold trinkets, bullets, and alcohol. It'll be a basket of currencies alright.


I think you are so right. This will collapse the whole system of western civilization, this corrupt, bloated, evil, master-slave system will come crashing down....and the Chinese will be screwed too (Germanicus) after all they are the #1 holder of U.S. debt.









 
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