UN plans resolution to drop dollar as world's reserve currency?
G-20 members also indicate willingness to drop dollar - all are losing confidence because of increased devaluation due to actions by Federal Reserve and administrations massive spending sprees. What affect will this have on the American economy if the dollar is replaced as the world's trade currency?
World's trade currency - oil and commodities are traded in dollars
- bretsmith7876Lv 51 decade agoBest answer
Hmmm...I wonder, now what currency could replace the dollar? Hmmm...What could it be? Somehow I doubt THAT currency is backed by gold either. Gee, could some kooky bunch of jet-stting, globe-trotting billionaires be looking to set the world on a multi-zoned electronically transferred FIAT currency, while they trade between themselves in gold? No...boy, I wonder if the first zone was the Euro zone...could the second be the Amero zone? NO! What are we, Tinfoil hat wearing freaks? Why that's insane! Couldn't happen...Who could have warned about that one, Hm, Cat? Not you! Not I! No...Source(s): I suggest we all actually read the last 2 pages of Atlas Shrugged. Boy, what an ending, huh? Most people never read the ending. They get halfway through, and say, "Well, after 1,500 pages, I get the gist". Not quite.
- GunnyCLv 61 decade ago
If it happens the effect will really be based on what currency if any replaces it; I say if any because it would be possible that a new standard currency could be designed but that would be difficult so the other thing would be to make it gold based and that could cause some major inflation depending on the futures trading there. Right now I think this is mostly talk to curb the US spending/deficit which China and others have already expressed concern about. One of those waut and see what happens then what the effect will be.
- iraqisaxLv 61 decade ago
Who cares about the UN or the G-20?
Our currency has been destroyed by our politicians in their insatiable greed. It all started in 1913 with the creation of the Federal Reserve System. Politicians and bankers have swindled us until the current dollar is worth about 3 cents of the 1913 dollar. These criminals stole our gold in 1933, and in 1971, Nixon completely severed any connection between gold and the federal reserve note.
You can be assured that the dollar will be repudiated, and you can thank our own politicians for it. We will soon hear their "economists" talking about an international currency.
Well, that's exactly what we need, the same international currency we had a hundred years ago - gold. The globalists will try to convince us to adopt another worthless fiat currency so that they can start all over again robbing us. Rather than adopting another paper currency, or worse, some digital unit of currency, we need to insist on returning real money - gold and silver.
Other than gold and silver, we are playing their game. Anything else enables them to create more currency whenever they wish. You can't print gold and you can't print silver!
Politicians are the worst criminals, the biggest mass murderers, and the worst thieves. They have a stable of prostitute "economists" to validate their schemes for swindling us. We need to understand what money is, and what it isn't.
Read your Constitution. The Founders put it in the Constitution: no state shall make anything but gold and silver coin a tender in payment for debt. And one of Congress' duties is to COIN money. This means gold and silver coin.
- TeresaLv 44 years ago
*sigh* A bag of jelly beans has been worth more than the US dollar for years now. It didn't just magically start with Obama. Anyway, no I don't agree with a global currency. It's ridiculous.
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- 1 decade ago
In times of War - real bow and arrow or shooting wars - what do people cling to? What has always proven its worth over time? Gold and U.S.Dollars.
- Anonymous1 decade ago
This was bound to happen.
It will cause epic inflation and all the wars and entitlement programs and Obama's plans will have to be halted.
- BillLv 71 decade ago
I've heard ppl say it will cause hyper-inflation, you know wheel barrels full of money to buy things type of thing. but I really can't say I totally understand it though.
- Anonymous1 decade ago
I think we should drop the UN.
- Anonymous1 decade ago
GOOD!! Now maybe they won't accept our 70% of their budget dues!
- ÂŅŦĬ ĂĈǾŖŇLv 61 decade ago
As secretly proposed by Obama, of course.
Didn't you know that we don't deserve everything we, as a nation, and individuals, worked for? We are rightly being punished by the Komrade Messiah.