[Glenn]

Beijing is also worried that a fall in dollar value would erode the value of its over $1 trillion dollar holdings in treasuries and other US government debt.

Count on it.

[ari-freedom]

∅bama is now a

tiny

little

nothing

[sourcery]

If SDRs were to become the principal reserve currency, then the political pressure to expand it’s supply would be at least as great as it currently is for the USD. It would be a case of “Meet the new boss, same as the old boss.”

To be worth doing, there needs to be something fundamentally different about any new reserve currency. Exchanging one fiat currency for another is just playing games of self deception.

[wolfcreek]

My Wife, me and our Chihuahua owe an additional $116,000 to somebody thank to Barry.

What's that dollar worth again?

[TenthAmendmentChampion]

Ping

[TenthAmendmentChampion]

Did the Teleprompter of the United States (TOTUS) have any comment about this?

[Gator113]

I don’t blame China for wanting to do this, not one bit. It’s time for them to cut up our credit cards and do everything they can to limit their risk.

Thank the dem’s congress and Obama..... but hey, your children and grandchildren can’t miss what we never allowed them to enjoy.

[TheBattman]

China has called for the creation of new global currency by the International Monetary Fund, possibly the revival of the Special Drawing Rights (SDR), to replace the US dollar as the new global currency.

This has not only been in the works for some time, but is to be expected. And for those with a similar eschatological view as myself, we have been watching for this.

And it WILL happen. Maybe not this time, but it WILL.

[Thunder90]

OPEC, Iran, Venezuela, and all of the other bad actors support this supercurrency, and want oil tied to this.