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To: Random-American

Any global reserve currency is bull-shit talk if it doesn’t belong to the dominant consumer country of the world. Period.

The UN and the IMF are tooth-less whiners at best and countries only give them ear-service when they need the dollars that these countries have. The UN can barely enforce anything (peaceful or not), how the hell are they going to enforce that countries don’t alter their exchange rates favorably when they are selling and when they are buying? This kind of bullshit talk works only for the Russians and the Chinese. A global currency is not global if it is not enforced globally. If a country prefers not to accept it, there is no way that anybody can force it to do so. The only true global reserve “currency” is Gold. There was a reason that the gold standard was dropped. I don’t know what it was, but it probably made sense back then and does now. I can’t comment.

This is just talk. The Chinese are talking both languages where they claim they want to buy more Us paper, and on the other side they want a global reserve. China trying to undermine the US along with Russia.


9 posted on 03/23/2009 8:28:55 PM PDT by MimirsWell (Scipio Pakistanus)
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“when they need the dollars that these countries have”

Correction, countries=entities


10 posted on 03/23/2009 8:29:45 PM PDT by MimirsWell (Scipio Pakistanus)
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