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Excerpt:
But a recent development just out, that the UN stated that a new world currency not dependent on the USD must be created:
“In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises.
It added that the present system, under which the dollar acts as the world’s reserve currency , should be subject to a wholesale reconsideration. Although a number of countries, including China and Russia, have suggested replacing the dollar as the world’s reserve currency, the UNCTAD report is the first time a major multinational institution has posited such a suggestion...” Telegraph.co.uk
What will happen when 0bama runs out of political capital?
Will he just print more?
Simple solution.
Tie the USD to the international price of Gold.
The dollar is deflated domestically, because...yes, we’re not buying! :-) It’s inflating internationally. So we’ll do better with domestic production, as soon as we’re willing to do real work again.
Tie the USD to the price of Ammo.
But when it goes, it will go violently.