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Thread: IMF calls for dollar alternative

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    IMF calls for dollar alternative

    By Ben Rooney, February 10, 2011: 4:37 PM ET


    NEW YORK (CNNMoney) -- 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. SDRs represent potential claims on the currencies of IMF members. They were created by the IMF in 1969 and can be converted into whatever currency a borrower requires at exchange rates based on a weighted basket of international currencies...

    Read more: IMF discusses plan to replace dollar as reserve currency - Feb. 10, 2011

    When the International Monetary Fund calls for replacement of the dollar as the world's reserve currency there can be no denying that this will ultimately happen. What does that mean for Americans? It means that the cost of living will increase and the American standard of living is going to decline. No ifs, ands, or buts about it.

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    Re: IMF calls for dollar alternative

    Crude oil is priced in US Dollars. If it ceases to be priced in dollars the price of gas at the pump will skyrocket.

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    Re: IMF calls for dollar alternative

    Inflation is coming. Look at fuel and food prices.

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    Re: IMF calls for dollar alternative

    Egypt Crisis Puts Spotlight on Weakness in US: El-Erian

    "The lack of a flight to the US dollar and Treasurys during the crisis in Egypt is a warning sign that investors are moving away from traditional American safety plays, Pimco's Mohamed El-Erian told CNBC...

    "Had you asked me 19 days ago what happens to the dollar if we have the sort of developments we had, I would have told you the dollar would be stronger," said El-Erian, co-CEO at the company that runs the largest bond fund in the world. "With the exception of three days, the dollar has weakened during that period. You are seeing a reassessment of the standing of the US dollar and the US Treasury market has the flight to safety, the flight to quality..."

    Read more: News Headlines


    The Reckoning for the Dollar is coming.

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    Re: IMF calls for dollar alternative

    I think this whole idea of replacing the dollar is silly. What will it be replaces with.....the Euro? The Yuan? The Ruble? One of those is having worse problems than the dollar, and other is control by valuation cheaters.
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    Re: IMF calls for dollar alternative

    If you don't own a wheel barrow you might want o buy one now, because it take one full of dollars to buy a loaf of bread if this takes place.

    This has more to do with the printing of money for failed bailout schemes than any other single act.

    2012 is going to be the most important election in our history, and if we fail to dump Obama and get rid of the idea of redistribution we are screwed for ever.

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    Re: IMF calls for dollar alternative

    Quote Originally Posted by American View Post
    I think this whole idea of replacing the dollar is silly. What will it be replaces with.....the Euro? The Yuan? The Ruble? One of those is having worse problems than the dollar, and other is control by valuation cheaters.
    Imo the US Dollar will ultimately be replaced by a basket of currencies similar to Special Drawing Rights. The bottom line is that international investors can't count on the American Govt. or economy any more.

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    Re: IMF calls for dollar alternative

    Quote Originally Posted by Albert Di Salvo View Post
    By Ben Rooney, February 10, 2011: 4:37 PM ET


    NEW YORK (CNNMoney) -- The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world's reserve currency.
    Thanks George W. Bush, we couldn't have done it without you.

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    Re: IMF calls for dollar alternative

    Quote Originally Posted by hazlnut View Post
    Thanks George W. Bush, we couldn't have done it without you.
    Fault lies with so many that their numbers are legion. The decline of the US Dollar will be felt most fiercely by the young.

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    Re: IMF calls for dollar alternative

    Quote Originally Posted by Albert Di Salvo View Post
    When the International Monetary Fund calls for replacement of the dollar as the world's reserve currency there can be no denying that this will ultimately happen.
    I agree. Ultimately it is inevitable that the dollar will be replaced by a basket of currencies. I don't see this as a bad thing though...it means that poorer countries are becoming more wealthy and are developing their economies to the point where they truly have some international clout. American declinism is highly overrated...the US is improving, just not as quickly as developing countries.

    Quote Originally Posted by Albert Di Salvo
    What does that mean for Americans? It means that the cost of living will increase and the American standard of living is going to decline. No ifs, ands, or buts about it.
    How do you figure?
    Last edited by Kandahar; 02-11-11 at 05:57 PM.
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