The dollar may be done: new reserve currency after the electionSubmitted by deleted-by-requ... on Wed, 04/25/2012 - 22:22
The BRICS are coming! New reserve currency after the election:
"Get positioned for the dethroning of the U.S. dollar as the primary reserve currency, according to Trends Research Institute Founder Gerald Celente.
Since the balance of global trade has changed quite dramatically from 1944, the year of the Bretton Woods agreement and the introduction of the dollar standard, Celente sees the tend of competing currencies taking on more of the dollar’s role for international trade accelerating.
As far as when western powers will move to a new currency, which has been speculated to include a weighted basket of currencies as well as a gold component, it won’t happen during an election year, Celente speculated. Politics comes first.
“I would expect it to happen after the presidential elections,” Celente told Russia Today. “They’re going to do everything they can to try and keep this thing going and try to sooth any kind of ripples coming from around the world.”
The transition away from a rapidly declining dollar as the primary global central bank asset has been slow in coming, too slow, in fact, prompting today’s fastest growing economic powers, the BRICS nations, to make other arrangements between themselves without the assistance or cooperation of the US."