A one world currency.
Posted on 06/07/2015 2:12:56 PM PDT by bob_denard
The same force that made the US dollar the world’s reserve currency is now working to dethrone it.
22 July 1944 marked the official conclusion of the Bretton Woods Conference in New Hampshire. There, 730 delegates from 44 nations met at the Mount Washington Hotel in the final days of the Second World War to devise a new international monetary system.
The delegates there were acutely aware that the failures of the international monetary system after the First World War had contributed to the outbreak of the Second World War. They were determined to create a more stable system that would avoid beggar-thy-neighbor currency wars, trade wars and other dysfunctions that could lead to shooting wars.
It was at Bretton Woods that the US dollar was officially designated the world’s leading reserve currency — a position that it still holds today. The Bretton Woods system pegged all major currencies to the dollar at a fixed exchange rate. The dollar itself was pegged to gold at the rate of US$35 per ounce. Indirectly, the other currencies had a fixed gold value because of their peg to the dollar.
(Excerpt) Read more at dailyreckoning.com.au ...
If and when it happens, it is going to be very bad. should have stayed on the gold standard, imho
If and when that happens, I think lead would be far more valuable then gold, ya know?
These articles are written by retards.
The first question is what will replace the US Dollar?
So I read the article and it’s a rehash of a rehash of a rehash. You know, first start with a little history Bretton Woods blah blah blah ....then talk about gold blah blah blah.
And then voila .... the replacement is CHINA! Well, well, well, WHY?
Oh bwcause, well because, us because they got some good gold plays going on!
Uh huh ....
Bullshit.
That’s damned depressing.
I just wish the price of gold would move up a little.
“From 1950 to 1970 the Bretton Woods system worked fairly well.”
Except it didn’t.
By 1959 the “Triffin Dilemma”, which isn’t mentioned in the article, was already showing itself. The number of dollars in circulation was exceeding the gold reserves backing them. And this was largely due to the desire of foreign banks to hold dollar reserves.
The US couldn’t run an active Cold War foreign policy and have the dollar be the world’s reserve currency at the same time, at least not with the dollar remaining strong. Ultimately this led to inflation and the devaluing of the dollar.
A better solution would have been not to use the dollar as the reserve currency and to instead use Special Drawing Rights.
I agree. Lately I’ve been reading how China is really stepping up it’s bullion purchases and gold/silver mining companies as well.
They now settle trade with scores of other countries in their own local currencies, bypassing the dollar entirely.
All in preparation to replace the dollar as the world’s reserve currency when the time comes (granted, it may not be all that soon).
The point is even Beijing knows that to be the big kid on the block you need the currency backed by something real and tangible and it’s supply cannot be manufactured out of thin air.
A one world currency.
If you mean it will be inflated to death, then yeah. That is exactly what is happening now.
that’s the truth. we need to get this debt under control like yesterday.
But then the socialist thieves wouldn't have been able to pull all that sh*t they did!
Sure. Repeal the last three words of the 24th amendment, and we'll get right on it.
Else?
They are going to inflate the dollar into the ground. I advise holding assets that don't cost money to hold.
If you believe all that, I advise you to run to the bank first thing Monday morning and covert all your US dollars to Chinese yuan.
You dance like a circus poodle for a piece of my gold....
“And then voila .... the replacement is CHINA! Well, well, well, WHY?
Oh bwcause, well because, us because they got some good gold plays going on!
Uh huh ....”
Is it your opinion that Monday morning will not be witness to millions of Americana rushing to their banks and exchanging US dollars for Chinese yuan?
The dollar is already dead. Go price a pound of hamburger. If you can stand that, go price a new pickup truck. If I told my father that a fancy pickup can go north of $60,000, he’d have laughed in my face. The last truck he bought cost $4000 in 1968.
...and it still runs.
Examples of these assets?
Dang near everything is Taxed or Permitted (if it is Permitted it can be taken with a Law, Regulation or EO)
TT
Its not if its when. Everyone on FR should be planning their exit strategy if they have not already done so.
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