Posted on 03/12/2011 12:12:53 PM PST by ex-Texan
US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is “quite open” to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund.
The dollar plunged instantly against the euro, yen, and sterling as the comments flashed across trading screens. David Bloom, currency chief at HSBC, said the apparent policy shift amounts to an earthquake in geo-finance.
“The mere fact that the US Treasury Secretary is even entertaining thoughts that the dollar may cease being the anchor of the global monetary system has caused consternation,” he said.
Mr Geithner later qualified his remarks, insisting that the dollar would remain the “world’s dominant reserve currency … for a long period of time” but the seeds of doubt have been sown.
The markets appear baffled by the confused statements emanating from Washington. President Barack Obama told a new conference hours earlier that there was no threat to the reserve status of the dollar.
“I don’t believe that there is a need for a global currency. The reason the dollar is strong right now is because investors consider the United States the strongest economy in the world with the most stable political system in the world,” he said.
The entire world will be under a one-world, global economic system run by a one-world dictator and the entire world will be forced to take his mark in the forehead or right hand.
This was prophesied in Scripture and of course it is happening.
No one who knows Scripture should be the slightest bit surprised.
Nice talk but absolute NO walk. If you think the sheeple are going to do anything to prevent them from slavery you are asmok'in something illegal. They will yap their way to the gulag. Solzhenitsyn saw this & couldn't believe the people would allow it but they did, as they will do here.
Selling us down the river. Removing the U.S. dollar as the reserve currency would devastate our economy and our way of life.
They all will wake up after it's too late.
WOW! I'm actually getting support of my view. Outstanding.
It is like they hate America and her people.
Wow! Who’d a guessed so much stuff is run by JOOOZ!
LOL conspiracy theories? The NWO is in the news.Soro’s openly called for it. You can’t make this crap up it is news.
Get these crooks our of DC NOW!!!!!!!!!!!!!!!!!!!!!!!!!
Do you reside in a cave?
You realize, of course, that you've ruined a nice conspiracy theory? If you are right, those who believed in that theory will now have to read a book instead of spewing defamation.
What Does Reserve Currency Mean?
http://www.investopedia.com/terms/r/reservecurrency.asp
A foreign currency held by central banks and other major financial institutions as a means to pay off international debt obligations, or to influence their domestic exchange rate. A large percentage of commodities, such as gold and oil, are usually priced in the reserve currency, causing other countries to hold this currency to pay for these goods. Holding currency reserves, therefore, minimizes exchange rate risk, as the purchasing nation will not have to exchange their currency for the current reserve currency in order to make the purchase.
Quite possible, but we don't know whom you mean by "they."
Geithner shocked global markets by revealing that Washington is "quite open" to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary FundGlobal reserve currency and world currency are not the same thing.
And most of ‘em are furriners to boot!
That Ron Paul is a kook.
I'm always doing that when I post facts. The conspiracy buffs will be back at it, they can't seem to remember facts very well.
Unfortunately... I feel the same way. Alex is kind of hard to swallow at first. He seems to be out of the pages of Weekly World News, but some of the things he says seem to be coming true.
This well may be true and can be discussed. But that is NOT what you said in your post. What you did say is a bunch of old lies that you have repeated verbatim without having no knowledge of the subject. That's all I said in the previous post. And it still stands.
New World Order... The Third Way...
This is just this guy letting this cat out of the bag that it is what 0bama would like to see, no doubt with himself ( 0bama) as King of the World.
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