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The Demise of the US Dollar

submitted by Sagemind

1 decade 5 years 5 months 1 week ago

Max Keiser on the demise of the dollar as a world reserve currency.
As per the G-Metting in Pittsburgh.

5 Comments

grubert says...

Robert Fisk's article is here. The basket of currencies to replace the US dollar in the oil market would be comprised of "...[the] Chinese yuan, the Euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar."

*news

Adding video to channels (News) - requested by NetRunner.

I've heard the reason for Bush invading Iraq was because Iraq changed it's standard currency for oil sales from the Dollar to the Euro in the end of 2000 and the Fed's greatest nightmare is that that would catch on with OPEC.... so after we invade... we switch them right back on the Dollar standard. No idea if it's true but its the first explanation for the war that seems to fit the motivations of the neo-cons.

bmacs27 says...

It will be good for America if the dollar takes a hit. A gradual progression from the dollar to a basket of currencies (which will contain the dollar) would help our exports, and spur industry within our borders. Honestly, the biggest impediment to employment in our country is the overvaluation of our currency. China needs to let their currency float, and the dollar will accordingly diminish.

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