Canada Ping!
Posted on 11/19/2012 3:01:05 PM PST by Squawk 8888
The International Monetary Fund said it’s considering classifying the Australian and the Canadian dollars as reserve currencies.
The two “are to be considered for inclusion” separately in the IMF’s “Currency Composition of Official Foreign-Exchange Reserves” data, the Washington-based lender said in a report published on Nov. 14. They’ve previously been included in an “other currencies” category in the COFER reports.
(Excerpt) Read more at business.financialpost.com ...
Canada Ping!
And most Americans will not even recognize that this is another step towards the ultimate devaluation of the US dollar.
In order to finish the USD off, alternatives must be found as reserve currencies first. A reserve currency must be both liquid and stable. The USD has plenty of liquidity (what with all the money that the Fed is creating), but it sure isn’t stable any more.
I would deal with the IMF using a very long rod to keep them at a distance.
Imagine if we lost reserve currency status and all those dollars come rushing home.
Imagine if we lost reserve currency status and all those dollars come rushing home.
ya, it would be loonie ,sorry LOL
lol.
for the record I am not related to that loonie and my name is spelled different too
saving my loonies and twonies...
It makes good economic sense. Canada is a strong commodities exporter (especially oil) and will continue to be so. Our USA no longer has an adequate manufacturing base (US-”based,” foreign soil production properly disregarded here), and our US economy is declining rapidly with a US dollar that is unnaturally high in this globalist economy.
And Canada should continue to get good world market prices for its commodities exports, even as parts of Asia continue to increase production of useful things.
If you ever tune into Science channel, they run a show called “How It’s Made” that’s almost exclusively Canadian. They appear to be in Canadian factories and shops showing “how things work.”
Canada is quickly becoming a haven for US ex-pats. It’s amazing how fast we’re declining.
Excellent observation.
I've seen it speculated that when China grows tired of watching its dollar holdings deteriorate, it could use them to buy up American goods and assets in a great flood of dollars.
At first, it would appear beneficial as our exports increase, but the ensuing price increases as they competed for those goods would wipe us out.
The Fed is evil, folks. And it's probably too late [since a**w*p* won re-election] to do anything about it.
Interesting and well said. Thanks for the tip on the Science Channel show.
Thanks for the ping.
No its the Queen with a bare behind...
:)
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