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Thread: How Close is the US Dollar from being dropped from the World Currency?

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    How Close is the US Dollar from being dropped from the World Currency?

    I found an interesting article exclaiming from liable sources that the US Dollar truly is on verge of possibly being dropped from the US Currency. I have heard rumors of this before, but seemingly blew them off for the time being, as usual

    http://theeconomiccollapseblog.com/a...lobal-currency

    The IMF is trying to move the world away from the U.S. dollar and towards a global currency once again. In a new report entitled "Enhancing International Monetary Stability—A Role for the SDR", the IMF details the "problems" with having the U.S. dollar as the reserve currency of the globe and the IMF discusses the potential for a larger role for SDRs (Special Drawing Rights). But the IMF certainly does not view SDRs as the "final solution" to global currency problems. Rather, the IMF considers SDRs to be a transitional phase between what we have now and a new world currency. In this newly published report, the IMF makes this point very clearly: "In the even longer run, if there were political willingness to do so, these securities could constitute an embryo of global currency." Yes, you read that correctly. The SDR is supposed to be "an embryo" from which a global currency will one day develop. So what about the U.S. dollar and other national currencies? Well, they would just end up fading away.

    CNN clearly understands what the IMF is trying to accomplish with this new report. The following is how CNN's recent story about the new IMF report begins....

    "The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world's reserve currency."

    That is exactly what the IMF intends to do.

    They intend to have SDRs replace the U.S. dollar as the world reserve currency.

    So exactly what are SDRs?

    Well, "SDR" is short for Special Drawing Rights. It is a synthetic currency unit that is made up of a basket of currencies. SDRs have actually been around for many years, but now they are being heavily promoted as an alternative to the dollar.

    The following is how Wikipedia defines SDRs....

    Special Drawing Rights (SDRs) are international foreign exchange reserve assets. Allocated to nations by the International Monetary Fund (IMF), a SDR represents a claim to foreign currencies for which it may be exchanged in times of need.

    The SDR is a hybrid. SDRs are part U.S. dollar, part euro, part yen and part British pound. In particular, the following is how each SDR currently breaks down....

    U.S. Dollar: 41.9%

    Euro: 37.4%

    Yen: 9.4%

    British Pound: 11.3%

    Now there are calls for other national currencies to be included in the basket.

    Russian President Dmitry Medvedev has publicly called for the national currencies of Brazil, Russia, India and China to be included in the SDR.

    In January, the Obama administration said that it fully supports the eventual inclusion of the yuan in the SDR.

    So yes, it looks like we are definitely moving in the direction of the SDR becoming a true global currency.

    But is this a good idea?

    Globalist organizations such as the IMF say that having a true global currency would facilitate world trade, it would make currency wars less likely, it would stabilize the global economy and it would make the rest of the globe less reliant on what is going on in the United States.

    In fact, there is a lot of discussion in international financial circles that oil should be traded in SDRs rather than in U.S. dollars.

    In a recent interview, IMF Deputy Managing Director Naoyuki Shinohara even suggested that the IMF may actually consider issuing bonds that are denominated in SDRs. Apparently the goal would be to promote the use of the new "currency".

    But once again, it is important to remember that the IMF does not see SDRs lasting forever either. Rather, the IMF considers the SDR to be an "embryo" from which a true global currency could emerge.

    An IMF paper entitled "Reserve Accumulation and International Monetary Stability" that was published last year even proposed that a future global currency be called the "Bancor" and that a future global central bank could be put in charge of issuing it....

    "A global currency, bancor, issued by a global central bank (see Supplement 1, section V) would be designed as a stable store of value that is not tied exclusively to the conditions of any particular economy. As trade and finance continue to grow rapidly and global integration increases, the importance of this broader perspective is expected to continue growing."

    In fact, at one point the IMF report from last year specifically compares the proposed global central bank to the Federal Reserve....

    "The global central bank could serve as a lender of last resort, providing needed systemic liquidity in the event of adverse shocks and more automatically than at present. Such liquidity was provided in the most recent crisis mainly by the U.S. Federal Reserve, which however may not always provide such liquidity."

    Yes, unfortunately this is what the IMF really has in mind for all of us. A one-world economic system with a one-world currency and a one-world central bank.

    Is that what we really need?

    A "global Federal Reserve" that dominates the currency and the economy of the entire planet?

    At least with the U.S. Federal Reserve there is hope that someday the American people can convince Congress to shut it down.

    A "global Federal Reserve" would not answer to anyone. Individual nations could attempt to pull out, but then they would potentially be isolated from the rest of the globe and potentially cut off from world trade.

    That may sound very far-fetched now, but that is the direction we are headed.

    And shifting away from the U.S. dollar as the reserve currency of the world would be disastrous for the U.S. economy.

    Right now the fact that the U.S. dollar is the primary reserve currency of the world is one of the only things holding it up. If you took that support away the U.S. dollar could end up collapsing quite quickly.

    Let us hope that the American people wake up and start insisting that we have no part in a global currency. If we ever allow a world currency to start replacing the U.S. dollar to a large extent, we will lose a great deal of our economic sovereignty. Not that we haven't lost most of it already, but at least if we are still using our own national currency there is a greater chance that we can reclaim it.

    What the IMF is proposing right now may seem very innocent, but the long-term consequences of going down the road they want to put us on could potentially be absolutely catastrophic.

    The American people need to send a very clear message to their representatives in Washington D.C.....

    #1 We do not want a one-world economy.

    #2 We do not want a one-world currency.

    #3 We do not want a one-world central bank.


    In this newly published report, the IMF makes this point very clearly: "In the even longer run, if there were political willingness to do so, these securities could constitute an embryo of global currency." Yes, you read that correctly. The SDR is supposed to be "an embryo" from which a global currency will one day develop. So what about the U.S. dollar and other national currencies? Well, they would just end up fading away.

    Man if this would happen I would love to see all the NWO affiliated people, they'll be going nuts.

    Don't forget to take into consideration that a few countries have already dropped the US Dollar from their currency.
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    Re: How Close is the US Dollar from being dropped from the World Currency?

    Global central bank? The federal reserve rips Americans off plenty, imagine what a global central bank would do.

    I'll be at the doorsteps of the president/congress revolting before allowing such a thing.
    Mr. Madison, what you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points, and may God have mercy on your soul.

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    Re: How Close is the US Dollar from being dropped from the World Currency?

    Quote Originally Posted by DontDoIt View Post
    I found an interesting article exclaiming from liable sources that the US Dollar truly is on verge of possibly being dropped from the US Currency. I have heard rumors of this before, but seemingly blew them off for the time being, as usual

    Shocking New IMF Report: The U.S. Dollar Needs To Be Replaced As The World Reserve Currency And SDRs “Could Constitute An Embryo Of Global Currency”








    Man if this would happen I would love to see all the NWO affiliated people, they'll be going nuts.

    Don't forget to take into consideration that a few countries have already dropped the US Dollar from their currency.
    No way are SDRs going to become the global currency. Just not a practical long-term solution. The dollar is safe for the time being; the global monetary system needs a de facto reserve currency to operate and SDRs won't cut it.

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    Re: How Close is the US Dollar from being dropped from the World Currency?

    Our gov has been pushing for this for years. NWO in full effect and our dollar is not worth a dolla anyways. They(powers that be) have been wanting us all to jump on world currency for years. The day I cannot break out a Dollar Bill and use it may be the day I finally get my ass up outta here
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    Re: How Close is the US Dollar from being dropped from the World Currency?

    The U.S. was never world currency, it was just popular currency. The Cold War spread it everywhere and it became the lingua franca of currency. The GBP has always far surpassed the USD in value but it lacked access.

    If we're going to still deal in the notion of a global currency - something I have always thought is a bad idea - then we should be putting stock into a country that has a central bank controlled by its own public. The BOA is corrupt as hell with no oversight, and the amount of money it is printing right now is leading the markets into precarious inflation territory. If you haven't already noticed that your money doesn't seem to be buying as much as it used to, then you'll be noticing soon enough at the rate the BOA is lending to the Fed.

    In Canada people are just waiting for the sound of the giant tree tumbling over. You know the economy is bad when the loonie is en par for years at a time.

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    Re: How Close is the US Dollar from being dropped from the World Currency?

    An SDR is quite a good idea, if you select the basket of currencies from the ones that are both valuable and stable, it'll reduce the global effects if the US economy takes a downturn (eg, the GFC).
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    Re: How Close is the US Dollar from being dropped from the World Currency?

    Is this a freudian slip? "...the US Dollar truly is on verge of possibly being dropped from the US Currency..."
    America currently benefits from the USD being the de facto reserve currency, held by other governments (in reserve) to pay for international commodities. In doing this, those other countries incur costs exchanging their currency for Dollars. America does not, as it already has Dollars. If oil, for example were priced in...Euros, then America would incur those exchange costs, and the Euro countries would save them. The SDR levels the playing field. All the major currencies are a part of the SDR so no exchange costs for anyone. Think of it as a poker chip. It has no intrinsic value, but it pays out in the currency of the country the gambler is in.
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    Re: How Close is the US Dollar from being dropped from the World Currency?

    I favor a one world currency. It would help reduce the chances of being ripped off. And would help bring the world closer together.

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    Re: How Close is the US Dollar from being dropped from the World Currency?

    Quote Originally Posted by Gray_Fox_86 View Post
    I favor a one world currency. It would help reduce the chances of being ripped off. And would help bring the world closer together.
    Perhaps in theory it would work. But there would need to be a one world government for there to be a one world currency. Just look at the problem Europe is having with the Euro. It is difficult to allow each country to control their own spending (thus some going into debt ex: PIGS) and still share a currency. And as for bringing the world closer together.... how much do you think Germany likes Greece right now?
    Mr. Madison, what you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points, and may God have mercy on your soul.

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    Re: How Close is the US Dollar from being dropped from the World Currency?

    It's only a matter of time before the US Dollar is replaced. Now even an international institution is calling for the end of the Dollar's preeminent role in world finance. When this happens Americans will pay more for imported goods such as crude oil.

    The average American standard of living is going to decline. This can no longer be hidden from Americans.

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