IMF calls for dollar alternative

IMF calls for dollar alternative

money.cnn.com

The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world's reserve currency. The IMF said Special Drawing Rights, or SDRs, could help stabilize the global financial system.

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So has it begun? If the US dollar loses status as the world reserver currency, we will see chaos in America... Prices of everything will go up just based on the increase of oil. Scary times ahead of us I'm afraid... Be prepared for what possibilities there are from this change! Anyone have any good input or info on the topic??

money.cnn.com
(visit the link for the full news article)

wow, just like AJ has been saying for a while now... new global currency coming? better buy my silver soon then

I've read the rumors that it was coming ... seems that once Saudi Arabia openly said that they would prop up Egypt if the USA couldn't continue the 1.2 or 1.5 billion dollar annual aid that they would. Seems the House of Saud has bowed to the Islamic secular pressure by its neighbors, without directly admitting how insolvent the USA is.

Wouldn't this make the dollar stronger though? If the dollar isn't the reserve currency, then they can't just keep printing more and more money, and therefore cause inflation? Please correct me if im wrong, im a little ignorant on this subject

Originally posted by bulletproof_monk
Wouldn't this make the dollar stronger though? If the dollar isn't the reserve currency, then they can't just keep printing more and more money, and therefore cause inflation? Please correct me if im wrong, im a little ignorant on this subject

No! With trillions of dollars around the world in circulation and oil mainly paid for in dollars this would crash the dollar and make it worthless. The more people using the dollar for trade the more value it has. That is sort of an over simplification but you get the idea.

It probably doesn't matter though the dollar will crash and so will every other fiat currency even these IMF credits will follow close behind.

Not exactly new:

IMF Website speaks of New World Currency

reply to post by hawkiye


Oh ok, thanks for clearing that up. So you think we'll be seeing further drop in the value of the dollar in the next coming months?

One thing's for sure.

The Illuminati Monetary Fund's next currency will be electronic.

reply to post by NuclearPaul


And your cellphone will be your wallet, among other things.

Welcome to the future and hail COBRA!

Already been posted:

www.abovetopsecret.com...

I think the main point is that IF the world stops trading oil in US dollars (And I'm not sure that this is a natural outcome from this story) the US would collaps. I have been looking ofr an article I read a few years ago to post in as a reference, but allas, I can't find it.

reply to post by dasysgod


I might get stoned for this, but I actually think this is excellent news. Sorry, but that's just what I think. I think the U.S. is in way too much debt, and the dollar is crashing anyway, whether or not this happens. It's unstable and for the U.S. to get out of their current predicament, some serious changes would have to be made. If this happens, it just might force them to make those changes and stop just continuously making more debt. Just like with any business you've got to draw the line somewhere at where the point of no return is. Like a company that has to decide, ok, you know what, we can not afford to make any more debt, it's time to sell out, or close the doors, and try and scratch together what you can to start again, this is the point that the U.S. dollar has reached.

This might not be what America wants, but what America wants and what's best for the world, is evidently two different things. An unstable currency with the amount of power that it yields, is dangerous to the rest of the world. The U.S. owes too much, and maybe, just maybe, this move, will help you guys recover, if the pressure of what your currency carries, gets taken of it's shoulders, just might be what it needs.

It's just an opinion, a thought, please don't stone me *runs and hides in corner*

Originally posted by Fenix777
reply to post by dasysgod

 

I might get stoned for this, but I actually think this is excellent news. Sorry, but that's just what I think. I think the U.S. is in way too much debt, and the dollar is crashing anyway, whether or not this happens. It's unstable and for the U.S. to get out of their current predicament, some serious changes would have to be made. If this happens, it just might force them to make those changes and stop just continuously making more debt. Just like with any business you've got to draw the line somewhere at where the point of no return is. Like a company that has to decide, ok, you know what, we can not afford to make any more debt, it's time to sell out, or close the doors, and try and scratch together what you can to start again, this is the point that the U.S. dollar has reached.

This might not be what America wants, but what America wants and what's best for the world, is evidently two different things. An unstable currency with the amount of power that it yields, is dangerous to the rest of the world. The U.S. owes too much, and maybe, just maybe, this move, will help you guys recover, if the pressure of what your currency carries, gets taken of it's shoulders, just might be what it needs.

It's just an opinion, a thought, please don't stone me *runs and hides in corner*

edit on 11-2-2011 by Fenix777 because: ETA

No stone throwing just information.

What you do not seem to understand is that this would be just transferring the ability to make debt to the IMF. So instead of just America creating debt it would escalate to a world scale.

Make no mistake this is nothing but an expansion of the money from nothing scheme to a world scale and central world control of all money (debt instruments). They already did this partially with the dollar (which are really federal reserve notes FRN's and not dollars) however they have blown the dollar bubble up about as far as it can go and it will pop eventually, so they are trying to reboot the system with a new debt instrument and guess what it will cause a major world wide inflationary depression. Why? Because you will only get these IMF instruments at about 8 cents for every dollar. Which equals Instant HUGE contraction in the money supply crashing world economies, so they then can begin to re inflate.

A managed monetary system is evil and does nothing but let the managers steal the wealth of nations. Now because of the ignorance of the people they wlll reboot the same pernicious system and start all over claming this will be the new saviour and there will be no more depression etc just like they did in 1933.

People need to do themselves a favor and get and read Ron Paul's book "End The Fed" and educate yourselves.

This is not a good thing in any way shape or form.

reply to post by dasysgod


They are calling for a dollar alternative because they know that the us dollar is DEAD......the people just don't know it yet!

Every country in the world imports to the US
The US imports more than double of what they export.

There is NO WAY to stop the demise of the US dollar.
What could the US export? No one wants GMO food......so US can't export that unless they lie.
The US land is so badly raped that in a lot of places crops won't grow without Monsanto fertilizers.
All the US's minerals and metals have been raped to death.....no new spots to be found. no export there.
Since the US wants to import Canadian water, I can only imagine that the US water supply is dead.
Some of you will say.....The US can make stuff and export it.......LOL sure can but all the supplies to make anything worth value is imported.

So then if the US can't exceed it's exports over it's imports then it is doomed. The dollar is dead, you just don't know it yet. If I lived in the US, I'd be doing everything in my power to get out. I'd cash out everything I could and go anywhere else just to escape the storm that is coming. I wouldn't want to be in that revolution, It'll make Egypt look like a pick nick.

reply to post by hawkiye

People need to do themselves a favor and get and read Ron Paul's book "End The Fed" and educate yourselves.

An online easy read is The Creature from Jekyll Island: A Lecture on the Federal Reserve "G. Edward Griffin

A PRIMER ON MONEY: by US House Committee on Banking

Another much longer read with a lot of history is SECRETS OF THE FEDERAL RESERVE


Videos: www.youtube.com...

reply to post by bulletproof_monk


with what hawkeye said after you!

its sort of like supply an demand.

If the entire world is using the dollar as a reserve currency, then there would be a HUGE demand for it. When there is a hug demand for a limited item, its value goes up. But when there is no demand for it, it loses value.