Comments on: G8 signals end to dollar supremacy

By: pedro

pedro — Sun, 20 Sep 2009 03:57:57 +0000

The dollar will be replaced soon.

Van have been watching to much fox news. the euro countries dont want to return to their currencys.
we are mutch better like this .
In 10 years the euro grow to be 26% of the world reserve currency and the dollar fall from 76% to 65%.
100 Yeas ago the pound was the strongest currency in the world, look at it today only 3% of the world reserves are are in pounds.
The IMF is going to sell 403 metric tons of gold. they will be bougt in dollars and the dollars will be used and will return to the U.S. it will make the dollar lose even more value.
There is no escape from the dollar collapse.
It´s no longer in the americans hands to decide.
xeque mate

By: Van

Van — Fri, 10 Jul 2009 14:41:27 +0000

When will the U.S. Dollar be replaced by some other currency? ANSWER: “When hell freezes over.” Remember when the Euro was supposed to be the end-all and cure-all for the European Union? Well, guess what! There is growing dissatisfaction among several E.U. nations, with some considering going back to their original economic ways and currencies.

By: Youri Carma

Youri Carma — Thu, 09 Jul 2009 12:34:20 +0000

Like to add an other point to the whole reserve currency discussion one that has been grossly underestimated and deserves more media attention. What about the amount of trade done whitout any money! Iran traded oil for Thai rice for instance. A very large, very underestimated proportion of world trade is done this way. Countries who have this possibility and don’t want to stick their necks into the “dollar guillotine” are going to increase this way of trading.

By: Anubis

Anubis — Wed, 08 Jul 2009 23:10:37 +0000

Ginsengjohn, how does one bring a den of liars and thieves to know the virtue of integrity? Otherwise I agree.

By: Gotthardbahn

Gotthardbahn — Wed, 08 Jul 2009 15:23:49 +0000

Old news. The FX market has known for years that the world’s central banks have been quietly bidding for EUROs and offering USD in an attempt to realign their FX holdings. Mr. Bush’s ill-advised wars and Mr. Obama’s foolish spending spree have merely accelerated the process.

By: Dum

Dum — Wed, 08 Jul 2009 14:44:12 +0000

I think the article is insightful and it’s proposition a valid one. Ultimately I would expect a move toward a universal reserve currency (SDR?) which would be much less prone to the political naivety and gerrymandering of, particularly, the past two decades. The idea of continuing as an ever increasing debtor nation is unsustainable and whatever happens to the status of the dollar will need to take that into account.

By: ginsengjohn

ginsengjohn — Wed, 08 Jul 2009 13:46:08 +0000

The World as well as American Citizens have lost respect in the financial dealings of Washington and the Federal Reserve. Stop deficit spending, Audit then dump the Fed. Washington, please come back to honest dealings as per the Constitution?

By: W. Stucchi

W. Stucchi — Wed, 08 Jul 2009 12:55:37 +0000

Times are rapidly changing, Ian. US $ is and won’t no longer be the sole currency of reference, which is a very, very good thing. This is and will be a multipolar world (or whatever remains of it)

By: A. Fisher

A. Fisher — Wed, 08 Jul 2009 12:43:03 +0000

The Federal Reserve was created to preserve the value of the dollar. However since 1913 the dollar has lost more than 90% of its value. Unless the trend changes the dollar will at some point be worth less than toilet paper. AUDIT THE FED then END IT.

By: Benny

Benny — Wed, 08 Jul 2009 12:38:14 +0000

Nothing is impossible. When people talk of going to the moon as absurd, we did it anyway. THe “reserve” status comes with a responsibility and this the Americans have not upheld. Can’t blame why the push for the shift. This idea may be in the minds of many others but who has the “voice and muscle” and the guts to make it heard. We all know the answer.