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The dollar slumped to its lowest level in almost a year on Tuesday rally in gold prices and concerns over its reserve status weighed on the US currency.
The dollar also suffered after a report from a UN agency rekindled concerns over the currency’s reserve status and raised fears that global reserve managers could diversify away from the US currency.
The UN Conference on Trade and Development urged the creation of a new world reserve system using several currencies rather than just the dollar, and called for tough controls on cross-border financial flows.
www.telegraph.co.uk...
"Replacing the dollar with an artificial currency would solve some of the problems related to the potential of countries running large deficits and would help stability," said Detlef Kotte, one of the report's authors. "But you will also need a system of managed exchange rates. Countries should keep real exchange rates [adjusted for inflation] stable. Central banks would have to intervene and if not they would have to be told to do so by a multilateral institution such as the International Monetary Fund."
Originally posted by marg6043
This not just some random "occurrences" this is been manipulated to cause this same effect, as the nations deficit grows with not end to the economy woes in the nation so other countries around that has been working very hard for a new change in currency now have the opportunity to finish their job for their cause.
China has been doing its fare share of gold manipulation since last week after borrowing 50 billion dollars from the IMF, but people are so into "Americas propaganda that they are missing the entire picture of how we are were we are right now.
A nation population that falls into ignorance, falls into decay.
Originally posted by marg6043
... other countries around that has been working very hard for a new change in currency now have the opportunity to finish their job for their cause.
China has been doing its fare share of gold manipulation since last week after borrowing 50 billion dollars from the IMF ... .
Originally posted by xoxo stacie
Originally posted by marg6043
This not just some random "occurrences" this is been manipulated to cause this same effect.
The BRIC has been at the front of the dog and pony show from the start. The fact that they have this body backing their calls should be a wake up call to ALL OF US the world over.
What we are now seeing is the fact that the so called international bodies created to hold everyone in check are wanting to get their hands in the mix too.
One thing we should all take into consideratiopn is the UN's eta. al OWN terrible track record of being able to balance the books.
Edit to add link to pdf:
media.abovetopsecret.com...
This is the pdf about the mismanagement and severe loss going on at the UN and its governing bodies.
Chinese companies have been on a shopping spree in the past month, snapping up tens of billions of dollars' worth of key assets in Iran, Brazil, Russia, Venezuela, Australia and France in a global sale set off by the financial crisis.
The deals have allowed China to lock up supplies of oil, minerals, metals and strategic resources it needs to continue to fuel its growth. The scope marks a shift in global finance, roiling energy markets and feeding worries about future availablility and prices.
The "climate envoys" of the world's largest polluters have decided to oppose greenhouse gastaxes, credits and schemes aimed to reduce CO2 emissions. India urged other emerging countries to oppose developed countries' efforts to force developing nations to make binding commitments on reducing their carbon emissions or pay tariffs.
Russia, China, India, Brazil (the "BRIC countries") will oppose carbon schemes at a meeting of the BRIC group, in preparation for the December U.N. Copenhagen Conference.
Originally posted by jdub297
reply to post by Rufuz
At a certain point, we have to end Federal intervention into the economy.
As it stands, the government has no faith in the American public. Maybe rightly so.
But, stepping in and doing "what's right" (in their thinking) for US will not help.
Some banks must fail. Some car makers must revamp or die. That's a natural business cycle. You make a mistake, you learn from it.
Right now, the government doesn't want us to learn from our mistakes. It insists it knows best, and that if it only helps "a little bit," we'll learn, grow, and be better.
At some point, we need a spanking, take our medicine, pick up the pieces and come up with our own answers.
Won't happen until "nanny" let's go. And the rest of the world is taking advantage of it while we ignore the truth.
jw
Originally posted by Rufuz
well not only the federal reserve, but all of it has to stop, all monetary system based on the same corrupt ideas