Archives for: March 2009, 25

Obama Dismisses Ideas Of Adopting New Reserve Currency

03/25/09 | by Ethnic Embrace [mail] | Categories: International, Top Stories, Finance

Yes, there has been much talk about another currency replacing the worlds main reserve currency and if you did not know that would be the USD. We recently published an article that mentioned all this.

Of course, this topic is not a new topic and there have been talks like this before. However, given the global economy and what little faith and trust many have in our re-establishing our status this is a very "big deal" and something we all need to keep on our radars.

Could you imagine what life would be like if China or Japan were to adopt another currency? Ultimately, this would decrease the worth of the US dollar dramatically. In fact a few countries have already made moves to decrease their dependency on our dollar. It all seems absurd :crazy: to think countries would (and moreover could) do this and the idea has been dismissed by Obama but just what if?

Related Articles:
The Financial Crisis and The US Dollar

Estimated Ownership of all US Treasury Securities

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