neil
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I found the below post on another site that , among other things, discuss the dollars role as a reserve currency etc....
25, 2009 7:28am (26 hr ago)
jacko
Senior Member Member Since Mar 2006
730 Posts
--------------------------------------------------------------------------------
Quote:
Originally Posted by jacko
Hi all,
Today will be a very important day in the history of the US dollar.
Later this, morning Tomothy Geithner will outline the details of the administration’s long-awaited plan to create a government body called the Public Investment Corp., funded by as much as $100 billion and purchase up to a Trillion dollars worth of troubled assets from the balance sheets of banks.
This plan relies on private investors (the mercenary "wolves" of hedge funds and private equity...
The next G20 meeting will be a very important meeting in the history of the US dollar.
After pumping Trillions of of newly printed USD dollar bills into the economy, and promising that they will continue to do so into the future....leading to a devaluation of the USD....the US goverment is now expressing "surprise and dismay" at the proposal from China ( and supported by most of the US trading partners) that the world should move away from the USD to a new world currency based on Special Drawing Rights from the International Moneary Fund.
http://news.yahoo.com/s/ap/20090325/...lobal_currency
Although it will take some time to put in place, it would result in the loss of the USD's position as the worlds only reserve currency, the loss of its "flight to security" status and its economic power.
The Commission of Experts on International Financial Reform panel will recommend to the UN that the dollar be abandoned as the world’s currency
.
After the disgraceful prostitution of the financial system by Wall St that has brought the world to the edge of financial abyss, it is no wonder that all the rest of the world is eagerly supporting this proposal
Should this proposal be seriously considered, we will see a long term and substantial deterioration in the USD.
How did we ever let those greedy morons on Wall St get us into this appalling position??
Why hasn't ANYONE been held legally responsible for this outright negligence and fraud??
.
Jacko
__________________
WayneJacksonFX
Jacko's Forex House of Pleasure and Pain - Page 455
25, 2009 7:28am (26 hr ago)
jacko
Senior Member Member Since Mar 2006
730 Posts
--------------------------------------------------------------------------------
Quote:
Originally Posted by jacko
Hi all,
Today will be a very important day in the history of the US dollar.
Later this, morning Tomothy Geithner will outline the details of the administration’s long-awaited plan to create a government body called the Public Investment Corp., funded by as much as $100 billion and purchase up to a Trillion dollars worth of troubled assets from the balance sheets of banks.
This plan relies on private investors (the mercenary "wolves" of hedge funds and private equity...
The next G20 meeting will be a very important meeting in the history of the US dollar.
After pumping Trillions of of newly printed USD dollar bills into the economy, and promising that they will continue to do so into the future....leading to a devaluation of the USD....the US goverment is now expressing "surprise and dismay" at the proposal from China ( and supported by most of the US trading partners) that the world should move away from the USD to a new world currency based on Special Drawing Rights from the International Moneary Fund.
http://news.yahoo.com/s/ap/20090325/...lobal_currency
Although it will take some time to put in place, it would result in the loss of the USD's position as the worlds only reserve currency, the loss of its "flight to security" status and its economic power.
The Commission of Experts on International Financial Reform panel will recommend to the UN that the dollar be abandoned as the world’s currency
.
After the disgraceful prostitution of the financial system by Wall St that has brought the world to the edge of financial abyss, it is no wonder that all the rest of the world is eagerly supporting this proposal
Should this proposal be seriously considered, we will see a long term and substantial deterioration in the USD.
How did we ever let those greedy morons on Wall St get us into this appalling position??
Why hasn't ANYONE been held legally responsible for this outright negligence and fraud??
.
Jacko
__________________
WayneJacksonFX
Jacko's Forex House of Pleasure and Pain - Page 455
