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The dollar's 70-year dominance is coming to an end
The Telegraph ^ | 7/19/2014 | Liam Halligan

Posted on 07/19/2014 1:33:03 PM PDT by markomalley

In early July 1944, delegates from 44 countries gathered at the Mount Washington Hotel in Bretton Woods, New Hampshire. A three-week summit took place, at which a new system was agreed to regulate the international monetary and financial order after the Second World War.

The US was already the world’s commercial powerhouse, having eclipsed the British Empire several decades earlier. America was also on course to be among the victors of “Europe’s conflict”, even though its economy was largely unscathed by war. As such, Bretton Woods was US-dominated and produced a settlement largely on US terms.

Seventy years ago this week, that fateful summit ended. Its close marked the moment the dollar’s unquestionable supremacy was secured. Since then, global commerce has been conducted largely in dollars and leading economies have held the greenback as their primary reserve currency.

The same system remains intact today, with the lion’s share of commercial settlements worldwide still clearing the US banking system – even if the parties involved have nothing to do with the States.

The dollar’s hegemony continues to be cemented, meanwhile, by the operations of the International Monetary Fund and World Bank. Founded at Bretton Woods, they’re both Washington based, of course, and controlled by America, despite some Francophone window-dressing.


(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Extended News; Government
KEYWORDS: brettonwoods; brics; dollar; imf

1 posted on 07/19/2014 1:33:03 PM PDT by markomalley
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To: markomalley

sick.


2 posted on 07/19/2014 1:39:39 PM PDT by brivette
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To: markomalley
The dollar's 70-year dominance is coming to an end

Quick....we need to PRINT MORE!

3 posted on 07/19/2014 1:41:15 PM PDT by Vaquero (Don't pick a fight with an old guy. If he is too old to fight, he'll just kill you.)
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To: markomalley

See, Obama made sure that even the dollar is getting it’s comeuppance. That show that US. /sarc


4 posted on 07/19/2014 1:41:46 PM PDT by dforest
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To: markomalley

lol


5 posted on 07/19/2014 1:42:42 PM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: brivette

I predicts one wold currency; one world government and attempts to remove all sovereignty and borders due to some sick twisted minds who don’t understand why completely different cultures won’t assimilate peacefully...


6 posted on 07/19/2014 1:42:46 PM PDT by jsanders2001
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To: markomalley

We’re broke and we’re going down the tube!

It’s going to be a quick ride down, when it takes hold and hard crash. Good luck!


7 posted on 07/19/2014 1:44:09 PM PDT by Star Traveler (Remember to keep the Messiah of Israel in the One-World Government that we look forward to coming)
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To: jsanders2001

I predict one world currency; one world government and attempts to remove all sovereignty and borders due to some sick twisted minds who don’t understand why completely different cultures won’t assimilate peacefully...


8 posted on 07/19/2014 1:44:58 PM PDT by jsanders2001
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To: markomalley

I think there will be a massive financial reset around the globe. And some country (China) will find a way to tie their currency to gold and they will dominate all other nations in the financial marketplace. The US will not be able to do this, because we’ve sold all our gold (and the gold which other countries left in our vaults for safe-keeping).

Gold may have to be $10,000 an ounce, but the winning currency will be tied to gold, and fiat money will be dead.


9 posted on 07/19/2014 1:46:08 PM PDT by ClearCase_guy ("Harvey Dent, can we trust him?" http://www.youtube.com/watch?v=HBsdV--kLoQ)
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To: yorkiemom; null and void; laplata; Gluteus Maximus; Salvavida; Foundahardheadedwoman; baddog 219; ..

CWII Spark — Congress’s continual failure to regulate the value of the dollar (ceding the power to the private entity called “Federal Reserve”) has resulted in your money losing nearly all its value.


10 posted on 07/19/2014 1:46:44 PM PDT by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: markomalley

I have found this website to be a very useful source of information on the economy, gold, and silver.

http://goldismoney.info/forums/


11 posted on 07/19/2014 1:46:51 PM PDT by Ultima
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To: jsanders2001

There will be a one-world government, or at least policy-setting organization... we know this from Revelation.


12 posted on 07/19/2014 1:48:03 PM PDT by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: markomalley

As such, Bretton Woods was US-dominated and produced a settlement largely on US terms.

The Bretton Woods era ended over 40 years ago when Nixon closed the gold window. The current dollar weakness started under the terrible W, and is continuing under the more terrible Obama.


13 posted on 07/19/2014 1:51:14 PM PDT by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: markomalley

About a year after Ubama leaves office he will admit that he was a Musloid all along.


14 posted on 07/19/2014 1:51:31 PM PDT by E. Pluribus Unum ("The man who damns money obtained it dishonorably; the man who respects it earned it." --Ayn Rand)
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To: markomalley
The money quote: "So America doesn’t worry about balance of payments crises, as it can pay for imports in dollars the Federal Reserve can just print. And Washington keeps spending willy-nilly, as the world buys ever more Treasuries on the strength of regulatory imperative and the vast liquidity and size of the market for US sovereign debt.",

America has been able to pay for imports with pretty little pieces of paper and entries in an electronic ledger. That is coming to an end. What now?

15 posted on 07/19/2014 1:54:22 PM PDT by Former Proud Canadian
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To: jsanders2001

Actually you are right, even though it is unpopular to admit what is coming. Sticking the old head in the sand is the correct thing to do.


16 posted on 07/19/2014 1:56:43 PM PDT by dforest
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To: markomalley

I don’t take the past 6-8 years as some forecast for the next 20. I think the dollar’s decline is specifically related to our current President.

Just like gas and energy prices.

I see an American come-back in our future that will rival the 80’s IF we are fortunate enough to get some decent leadership in the next President.

Otherwise, yeah - we be screwed for a very, very long time.


17 posted on 07/19/2014 2:01:43 PM PDT by Noamie
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18 posted on 07/19/2014 2:02:12 PM PDT by RedMDer (May we always be happy and may our enemies always know it. - Sarah Palin, 10-18-2010)
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To: dforest

How many times does biblical prophecy have to come true before the lefties can’t ignore it anymore? If they’re paying any attention, It should be very obvious we’re headed down that track...


19 posted on 07/19/2014 2:04:29 PM PDT by jsanders2001
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To: markomalley

It’s almost past time to get our spiritual houses in order.


20 posted on 07/19/2014 2:05:24 PM PDT by SumProVita (Cogito, ergo....Sum Pro Vita - Modified Descartes)
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To: markomalley

The Declaration of Independence and Constitution were written with the PRESUMPTION OF LIBERTY that is the inalienable right of each citizen

Government acts with the presumption of total power over each citizen. It is easy for one branch of government to give other branches permission to expand or maintain their power. It is difficult, for one branch to reign in the power of another branch. This is made even more difficult when a common, power-oriented, ideology pervades members of each branch.

The primary limit on government power is the limited money it can spend. When government gives itself power to create near-infinite amounts of money through an “independent” central bank, then there is very little to limit near-infinite amounts of government in all forms, particularly the groups that it will give subsidies to and the bureaucrats it will employ.

Every day more people are coming to the judgment that a carefully organized effort to repair the constitution via the States’ power to propose and ratify amendments has less risk to our liberty and prosperity than the present trajectory of the federal government and especially the federal bureaucracy.

The first order of business of an Article V Convention must be to limit government’s ability to spend and create near-infinite amounts of money.


21 posted on 07/19/2014 2:06:18 PM PDT by theBuckwheat
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To: markomalley

Counterfeiting our own currency does that.

Why would anyone want to have a counterfeit currency as the world rerseve currency?


22 posted on 07/19/2014 2:07:24 PM PDT by Lorianne (fedgov, taxporkmoney)
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To: markomalley

They have been declaring the end of dollar before global global cooling was fashionable.


23 posted on 07/19/2014 2:18:51 PM PDT by Raycpa
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To: jsanders2001

So will it be Chinese?


24 posted on 07/19/2014 2:48:45 PM PDT by Salvation ("With God all things are possible." Matthew 19:26)
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To: markomalley
The dollar's 70-year dominance is coming to an end

Compliments of the Progressives who gave control of our money to private banks (The Federal Reserve), and ensured devaluation of our money by removing it from any links to reality (taking it off the gold standard).

This always spells the doom of every country which goes down this path.

And none of this is accidental. It repeats itself throughout recorded history and is designed to transfer wealth to a small group of elites. The Founding Fathers were well aware of it and did their best through the Constitution to preempt it.

25 posted on 07/19/2014 2:58:56 PM PDT by DakotaGator (Weep for the lost Republic! And keep your powder dry!!)
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To: markomalley

The decline of our currency has to be related to the performance of others; I don’t know about the yuan, but value against the euro hasn’t changed much.

Of course I’m not well versed in this. Maybe somebody here’s been keeping track.


26 posted on 07/19/2014 3:01:31 PM PDT by tsomer
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To: Noamie
I don't see the country's leadership as the problem. I see it as a symptom of a much larger problem.

Changing the leadership without fixing the underlying cultural and social foundations of this country won't do a damn thing.

27 posted on 07/19/2014 3:13:13 PM PDT by Alberta's Child ("What in the wide, wide world of sports is goin' on here?")
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To: markomalley

When the dollar ceases to be the world’s reserve currency we will probably experience Weimar Republic type hyperinflation.


28 posted on 07/19/2014 3:21:32 PM PDT by gorush (History repeats itself because human nature is static)
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To: gorush

‘When the dollar ceases to be the world’s reserve currency we will probably experience Weimar Republic type hyperinflation.’

That is what I expect also. Those who put their faith in this government or the Fed to head off what I see as inevitable, are going to wake one morning, broke. There are worse things I suppose but with the current mix of different cultures here and the class warfare that Obama has promoted, I believe our response to the coming collapse will be much worse than was Germany’s.

We are already seeing the beginnings of hyperinflation now and it will most likely before too many months pass, suddenly be upon us. Be prepared to protect yourself because the cavalry aint coming.


29 posted on 07/19/2014 3:40:55 PM PDT by Foundahardheadedwoman (God don't have a statute of limitations)
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To: Foundahardheadedwoman

We are already seeing the beginnings of hyperinflation now and it will most likely before too many months pass, suddenly be upon us. Be prepared to protect yourself because the cavalry aint coming.

__________

What are you seeing as the beginning of hyperinflation?


30 posted on 07/19/2014 3:43:01 PM PDT by Chickensoup (Leftist totalitarian fascism is on the move.)
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To: Chickensoup

Food, energy, rents, auto prices, toothbrushes, farm land, other than wages, housing, computers, antiques, used motorcycles, used rv’s, used boats, and clothing pretty much everything is up. The stock market is another example.

Lower prices for used rv’s, antiques, used boats, and used motorcycles tells me that discretionary income is down. That tells me that more people are strapped for cash and are living paycheck to paycheck and cannot afford luxuries. That’s just what I see in my small corner of the world. I am not an expert but have never met one either. I have read that food is up over 20% so far this year. My electric bill is up 30%. The cigarettes I unfortunately smoke have gone up 3 times this year. My cat treats have been downsized but the price remains the same. This is just my opinion which is worth about at same as everyone else’s.


31 posted on 07/19/2014 4:16:55 PM PDT by Foundahardheadedwoman (God don't have a statute of limitations)
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To: ClearCase_guy

First this comment from the article below. It`s spot on and prescient :

They will re-monetize gold for trade in goods by-passing the dollar or they will establish trade via other currencies. But the goal is to start backing their trades and/or individual currencies with gold.

The caveat is this, however: They still need to continue slowly extricating themselves from as much of their U.S. dollar and bond holdings as possible so that they don’t start a fucking avalanche and everyone start running and screaming from the theater all at the same time. That way they can also continue to buy gold for cheap dollars.

But when the day comes and they’re all wired together with their own version of SWIFT and everyone is ready to rock, then that’s when they will flip the switch on the dollar. They will all have to dump it at the same time so the transition occurs in one move basically over a weekend.

-BRICS Plan To Become “Political Alliance” To Reform The International Financial System-

As the world slowly turns against US Dollar hegemony, it appears the BRICS are pressing to fill any gaps. Having created the BRICS Bank “alternate to The West-controlled IMF or World Bank,” Xinhua reports that Russian Foreign Minister Sergei Lavrov believes the BRICS mechanism has been fully developed and can now transform into a political alliance to “reform the international financial system.”

http://www.zerohedge.com/news/2014-07-19/brics-plan-become-political-alliance-reform-international-financial-system

-BRICS Announce $100 Billion Reserve To Bypass Fed, Developed World Central Banks-

http://www.zerohedge.com/news/2014-07-15/brics-announce-100-billion-reserve-bypass-fed-developed-world-central-banks


32 posted on 07/19/2014 4:21:25 PM PDT by Para-Ord.45 (Americans, happy in tutelage by the reflection that they have chosen their own dictators.)
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To: ClearCase_guy

PS:

When they sell off their U.S. Bonds, get organized and flip the switch overnight?

The USD becomes worthless and will fetch maybe 50 cents at first then continue to melt to 5 or 10 cents.
USA either esets to a Constitutional Republic or becomes a 3rd world sh*t-hole dictatorship.


33 posted on 07/19/2014 4:25:07 PM PDT by Para-Ord.45 (Americans, happy in tutelage by the reflection that they have chosen their own dictators.)
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To: markomalley
Hooks and Chains by 10 Pound Test

Scouts Out! Cavalry Ho!

34 posted on 07/19/2014 5:13:16 PM PDT by wku man (Veterans, it's up to us to save the Republic...let's roll.)
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To: markomalley

Important article.


35 posted on 07/20/2014 6:48:36 AM PDT by CPT Clay (Follow me on Twitter @Clay N TX)
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To: Star Traveler

Mark Steyn likes to cite this passage from The Sun Also Rises when discussing the bleak fiscal future of America:
“How did you go bankrupt?”
“Two ways. Gradually, then suddenly.”


36 posted on 07/20/2014 11:29:38 AM PDT by pluvmantelo (Democrats:the party of moral hazard, the IRS, the NSA and the heckler's veto)
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To: Noamie

Electing one man, hoping in one man, is folly.

It is the electorate which has been co opted and dumbed down and made dependent and immoral.

As such, this trend WILL continue, unless the change that is necessary, an electorate craving freedom and sanity and moral-justness, is re-established. Pending that, hold on for the ride.


37 posted on 07/21/2014 5:14:12 AM PDT by RoadGumby (This is not where I belong, Take this world and give me Jesus.)
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