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US Dollar unreliable global reserve currency – UN

Published: 01 July, 2010, 03:22
Edited: 09 August, 2010, 01:37


The United Nations Department of Economic and Social Affairs slammed the US dollar in a new report, saying it is an unreliable international currency and should be replaced.

 
9 COMMENTS
Count Cash July 01, 2010, 05:30 quote
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It is all very very simple. The US economy is in dire trouble. It therefore needs access to a printing press that can produce universally accepted money and also access to growth a vehicle. To keep access to the printing press, it needs kill off any other rising currency. Hence the orchestrated Wall street attacks on the Euro, backed by the Anglo-Saxon propaganda machine. But the US also knows that access to the printing press, whilst necessary, is not sufficient, to get it out of the hole it is in. Because printing money (QE) has a nasty affect on inflation (up). So, the second thing it needs is growth. For growth there are only two real games in town to increase its exports, those games are the EU and Russia. In terms of EU the US has a problem, it has to be at war with it on the Euro front, but has to be best buddies on the growth front. This is why you see the US and its agents up in arms about austerity packages in europe, because they know it hurts their growth. But on the other hand Germany is basically using Austerity, not just to improve its economy, but to also bargain with the US, a sort of leave the Euro alone or you don't get growth (note reserve currency perspective, Germany takes some benefit from weaker Euro as strategic advantage). So now enter Russia, it is a jewel for the US. It offers growth but without any immediate reserve currency threats. Come in buddies, have a burger, any thing I can get you! See the US isn't a real big friend, quite naturally it likes us (Russia) now, because we offer potential advantage to get them out of a hole. Simple as that. We have a Russia, EU, US triangle of growth and currency - this is the great economic game being played out between these economies. It is all strategy and dependence, the triangle is closed by the final play that Russia also offers the EU growth, because it needs it the same way as the US. So actually Russia has big economic advantage now for both the US and Europe, nothing is going to stop that

PR101 July 01, 2010, 06:26 quote
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So it is EU [read Germany], the U.S and Russia. What about other player such as China? What will Russia do if the U.S opts for war insteadt of curreny game?

Count Cash July 01, 2010, 10:12 quote
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The Chinese market, is its own in terms of expansion, you need alot of effort for little return Please Mr, set your factory up here, train us, 51% ownership please, huge market see, you will do well, but you find out in the end mostly for the Chinese. Dissapointment in the end yes! China is a huge market, double US and EU joined together, and they are now using it in an internal fashion. The foreign goods were good brand leaders, but the copies were just as good, thanks Apple for the maarketing and proof of concept. The DVDs are mighty cheeper when made in China.............. on and on and on. And if US goes to War, Russia will in the end be on their side, how did it work out in history last time. How many times have the US and Russia fought, you got it zero. Why fight, when you will anhialate yourselves while we have capable nukes, that's not good thinking. Better to carve something up, that solves both your problems if it comes to War. But let's hope we never see carnage and war again here. What we need is a re-balanced world, without distruction, where we have a multipolar comminity. The US needs to be part of that comminity and accept its new position and need for competitiveness and good buisness, as a basis for influence. The things it is naturally good at, but that have been neglected in favour of the Gun lately. So for others beware the US problem, it could well become yours close to home!

PR101 July 01, 2010, 15:05 quote
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Count Cash No it is not true that Russia fought side by side with the with the U.S. This is also true in the real sense in WWII. We know that according the classified British secret document- Operation Unthinkable- the Anglo Saxon alliance of Britain and the United States thought seriously nuking the Soviet Union in WWII. Do you deny these documents exist or that that Churchill wanted to nuke the Soviet Union even before WWII ended? Do you also deny that the United States that is spread heading the current campaign of historical revisionism designed to undermine the historical sacrifice of the Soviet Union? If Russia stands side by side with the U.S imperial aggression, it will do so knowing that the U.S imperial aggression is directed against the Muslim world. This will be catastrophe for Russia. We know damage done to Russia by Russian Diaspora and that now they are playing critical role in bring Russia under U.S hegemonic dominance but let Russia do this and that will be a terrible mistake for Russia. As for the supposed weakness of Russia, Russia has enough deterrent to defend itself against any military aggression.

M.A.O.U.S. July 05, 2010, 23:26 quote
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SCITZOFLATION: this is where the U.S. is heading http://www.scribd.com/doc/33289154/M-A-O-U-S-scitzoflation

Truthammer August 08, 2010, 22:27 quote
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The world price for oil is set in U.S. dollars . America wants to keep this monopoly and that is why they attacked the Euro through its weakest link - Greece . When petro-states threaten to price their reserves in a different currency they are boycotted , attacked , bribed , or intimidated through British and American influence . America does not produce innovative , competitive products in America anymore . Fewer high-paying jobs mean less tax revenue and more public debt paid for by future wage-slaves . The only way to defend the U.S. currency is by weakening other currencies and creating fear so that investors flock back ! A one-world currency would be disasterous as it would give international bankers even more control over the economic policies of our world . Just look at the mess they have created so far with the IMF , World Bank , and Bank of International Settlements !

RTFM January 13, 2011, 10:38 quote
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Dunno why the UN broke apart the event, someone should probably take care about this strange twist. The tail "…and replace dollar with a supranational currency" makes a tad early call for another paper. Not inside the US territory, please, give them the investors/creditors' currencies to be used w/o limitations, while other countries may use their own ones, for a decade, maybe. But this would be a real competition, eh? Then bind it to the winning printing machine.

Max Mahajan January 27, 2011, 21:32 quote
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Re: Count Cash

A pretty good analysis of the economic, geopolitical and strategic aims (both of the latter terms referring to the financial &/or economic aspects primarily) behind the actions of certain Americans!

The tragedy of America is that the people are hard-working, go-getters, risk-takers and so on but they are ruled by an unethical, immoral and corrupt political and financial elite. This was the elite which threw its own American brothers and sisters to the dogs via the sub prime crisis and many other financial scams down the years. This wasn't always true and the exceptions to my 'unethical, immoral and corrupt political and financial elite' label are real greats such as George Washington, Abraham Lincoln, Martin Luther King Jr. and many others.

Count your cash in gold – count cash !!! The elite of America are no one’s friends!! How can they be anyone’s friends when they throw their own fellow citizens to the wolves?!?!

Max Mahajan January 27, 2011, 23:54 quote
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Re: Truthammer August 08, 2010, 22:27

Absolutely right 'Truthammer'! Could you kindly reduce the 'Hammer' effect?! Your comment IS powerful and on the dot!

A one-world currency, in the ideal sense, is actually the REAL solution, however, the desire of the human race to differentiate between itself based on race, tribe, colour, religion, voodoo is unlikely to make that happen!

I remember seeing what people would call a 'B' or 'C' grade Hollywood film which had a story line wherein highly intelligent 'Aliens' came to Earth and were SHOCKED to see Earthlings fighting with one another! When the Earthlings fired their BEST weapons at the 'Aliens' to no effect, the 'Aliens' gave them a sample of THEIR firepower. Subsequently they gave Earthlings an ultimatum: sort out your problems within a year and make PEACE! If you do so we will not come here again and if you don't we will come back and rule you so as to teach you what Peace & Prosperity really mean. The film then depicted the scramble of meetings between world leaders to meet the deadline set by the 'Aliens'! Hilarious BUT quite likely! Exactly what Planet Earth needs in the face of American elites trying their level best to shove a now worthless currency down our throats!

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