And I when it stops being the reserve currency all of those dollars being held overseas will come rushing home. The result? Inflation the likes of which we’ve never seen before.
You may also be interested in this article:
http://www.zerohedge.com/news/2013-10-13/chinas-official-press-agency-calls-new-reserve-currency
The #2 lender to the US, second only to the Federal Reserve, is calling for a new reserve currency to replace the US dollar. This article appeared in Xinhua, the official Chinese press agency.
The Bible says the borrower is slave to the lender (Proverbs 22:7). By electing officials who run up huge deficits and make promises that require even larger deficits, and by abusing credit themselves, Americans have collectively ignored this wisdom, and are responsible for their sorry status.
The IMF has already considered the prospects of an end in US$ reserve status. It will be very interesting to watch transpires when the Chinese and the oil exporting countries decide to replace the US Dollar as the unit of exchange for their export goods. Interesting, but not fun, because the party will be over.