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UN panel touts new global currency reserve system
breitbart.com ^ | Mar 26 04:09 PM US/Eastern | Breitbart.com

Posted on 03/26/2009 5:18:52 PM PDT by Gordon Greene

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To: JasonC

You do seem knowledgeable about finances... that’s more than I can say for myself, but I have been around long enough to know what the UN stands for (or doesn’t stand for). The story is about the UN for the most part but seeing as basic math is tough for me I mostly have to hang out around philisophical areas.

I do love freerepublic mostly because of the diverse opinions with a mostly conservative slant. Hmmm... sounds like the Founding Fathers, huh?


21 posted on 03/26/2009 8:43:45 PM PDT by Gordon Greene (www.fracturedrepublic.com - It is possible to be so open minded that your brains leak out.)
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To: JasonC
if China wanted to trash the dollar all it has to do is pick up the phone, call their currency trader, and say "sell it".

Yes they could. It is their nuclear option, so to speak. The other side of the coin is equally destructive, and that would be for the US to threaten default.

It is much the same "mutually assured destruction" game of realpolitik played with currency instead of nukes.

Neither side is anxious to be the one who pulls the trigger.

22 posted on 03/26/2009 8:46:12 PM PDT by grandpa jones (L.O.M.A. (loyal opposition my azz))
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