Dollar should be replaced as international standard, "U.N. report" saysNew York (CNN) -- The dollar is an unreliable international currency and should be replaced by a more stable system, the United Nations Department of Economic and Social Affairs said in a report released Tuesday.
The use of the dollar for international trade came under increasing scrutiny when the U.S. economy fell into recession. "The dollar has proved not to be a stable store of value, which is a requisite for a stable reserve currency," the report said.
Many countries, in Asia in particular, have been building up massive dollar reserves. As a result, those countries' currencies have become undervalued, decreasing their ability to import goods from abroad.
3 comments:
An unreliable international currency?
The green back the most dependable
In all of history,
More flexible n respectable
That's why it's the reserve currency
Undisputed king of stability
Name another piece uh paper
More capable with ability
Exchange those things
From China to the boot of Italy
These silly autonomists
Hate the green back's particularity
Gold standard,
Nah, God standard
Give the green back its Supremacy...
Hey Gentiles,
Go into the mind of the Zionist and find out why they can do this without remorse.
Too Easy....
Yeah Bra! They ain't playin.
Click here
Should open your mind to the Talmud.
brought you by man-kind himself.
Click here
The dollar plunged today following a United Nations report which called for the greenback to be replaced as the global reserve currency by the International Monetary Fund’s special drawing rights (SDRs).
The dollar’s trend of moving inversely to the stock market has seemingly been snapped, with the Dow Jones falling over 100 points at one stage today. However, as soon as markets began to claw back losses, the greenback failed to follow suit, indicating that whichever way markets move, the dollar is in big trouble.
The UN report called for “abandoning the U.S. dollar as the main global reserve currency, saying it has been unable to safeguard value,” according to Reuters.
“A new global reserve system could be created, one that no longer relies on the United States dollar as the single major reserve currency,” stated the report, adding that this new system should not be based on a basket of currencies, but on IMF-controlled SDR’s.
Following globalist moves to restore confidence in the single currency euro in the aftermath of the Bilderberg and G20 meetings, the concern has shifted from sovereign debt issues of countries like Greece and Spain, to the worsening state of the U.S. economy and the risk of a double-dip recession.
In the immediate aftermath of the 2010 Bilderberg meeting in Spain, at which globalists resolved to save the euro from collapse in an effort to restore confidence in their ultimate goal of a global single currency, the euro began to make a recovery and today rose against the dollar by over 1.5 per cent.
A cascade of negative U.S. economic data was released today, with job figures turning sour once again.
“Jobless claims were a disaster, coming in at 472k, on expectations of 455k,” reports Zero Hedge. “The economy has now entered the “total freefall” area”.
The dollar is being targeted for destruction because the financial terrorists who caused the economic collapse in the first place want to exploit the crisis in order to institute a new global currency issued by a global central bank.
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