7 votes

Headline for the history books: "Why the Dollar Will Always Be the Reserve Currency for the World"

From Yahoo:

...in the accompanying video interview with Martin Wolf, chief economics commentator for the Financial Times, he tells The Daily Ticker the dollar is under no threat as the world’s reserve currency.

“I’ve never been very worried about this,” he asserts. “The reason for that is there really is no alternative. The Chinese are not going to offer – and they cannot, given where they are in development, I think, for a decade or more – a genuine competitor for the dollar.”

Time will tell. Full story and video here:

http://finance.yahoo.com/blogs/daily-ticker/why-dollar-alway...

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

REALLY! Isn't that what the ROMANS said?

Or the English?

That guy is what's wrong with economics today. They can lie and teach untrue crap which poisons the minds of students the world over.

But in the end, economic law is no different than the laws of physics...Every action has an equal and opposite reaction.

It's just that in economics, you can stretch it out longer with interference from government policies, military force and central bank shennanigans.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

Is he aware...

that back in March 2013, the Chinese claimed that ALL of their Yuan is now backed by gold?

Is he aware that the Chinese are building the worlds largest oil refinery in Saudi Arabia, the country our petro-dollar is tied to?

Is he aware of how easy it would be for any large country to make a public statement denouncing the dollar to create panic and a massive liquidation of the dollars being held would pour back into the USA and cause a catastrophic inflation?

This guy doesn't sound like he is aware of much that goes on in this world.

Yep, and Chinese Dagong rating agency just downgraded

the US from A to A-. If this isn't a slap in the chops by the Chinese government I don't know what is.

http://www.zerohedge.com/news/2013-10-17/chinas-dagong-downg...

http://www.rawstory.com/rs/2013/10/17/china-downgrades-u-s-c...

Gold standard: because man can not be trusted to control his greed

It might be,

that barter trade and theft will be the reserve currency in the future.

But theft is already a part of our system, and has been for the last 100 years!!

NOSHEEPLE

Why does the world need a reserve currency?

The world doesn't need a reserve currency. Just a few good competing currencies.

You know I've asked myself that in passing a few times.

Why does the world "need" a reserve currency? Very good question indeed. Seriously, can anyone tell me?

Does a global economy need a

Does a global economy need a good quarterback? One that can bail out the entire world with a few strokes?

When the global economy collapsed in 2008, the world was bailed out with a single currency that is strong enough to be so high in demand no matter what backs it.

There is no alternative to the US dollar. Gold backed money is one of the biggest reasons why the original 13 colonies of America revolted against England! Colonial script was made possible with a printing press, and it has been more popular than gold or silver ever since.

Never be afraid to ask simple questions.

Uh?

That doesn't really answer my question. Are you being sarcastic? Because the Quarterback analogy doesn't fit in with the rest of what you said. A quarterback implies competition.

hilarious

" A quarterback implies competition."
this is what happens when you have competition:

http://youtu.be/NJ9lxXWMR-U
Somebody will sack you, take the ball and leave you in the dust....

$ Federal Reserve Currency $ [Photographs prohibited]

Are you wondering, "Where is your reserve currency stored?" Keep wondering. The secret is safe until you find out. Here is an artist rendering of our faith based reserve in its container (aka: debt ceiling).

In -GOd- Legal Tender We Trust

==== Glossary =====
reserve currency - noun. Oxford Legal Dictionary

    a strong currency widely used in international trade that a central bank is prepared to hold as part of its foreign exchange reserves.

[No photographs please.]

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Could be an interesting read

if only to hear what he has to say on the matter.

in related news:

England will always have the strongest navy.

The Roman empire will never fail.

The Titanic cannot be sunk, even by God.

and everyone other claim to permanence in the history of mankind, is laughing at him...

"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe."-- Albert Einstein

the earth used to be flat too

and for some it still is.

I just saw that as well...

Thought about posting. what a joke

"When the people fear the government, there is tyranny. When the government fears the people, there is liberty."

-Thomas Jefferson