IMF calls for new currency to replace the USD as world reserve.

Aaron Sice said:
Where is this headed?

It will be a scandal, the idea trumped and then slid back on the table after DSK's removal.

The USD will never again be the world reserve currency once DSK is removed. The US will only be allowed to come back to the world stage with it's currency with something that can be proven more reliable that the IMFs own SDRs.

It might even have to be gold backed.

It might even have to be a mix of less risky, broader expanse of exposed economic factors across capital, manufacturing and minerals markets.

Hmmmm......Mexico has an okay manufacturing base. The US can have the capital base because they are already set up for it and Wait!? Canada has resources!

Voila. The Amero is floated.

Buy gold. Buy gold now as anonymously as possible.

I'm out of stocks as of tomorrow.

I'm out of RE as soon as possible, personally. I see high IRs for the cartel to fund this move.

I'm going back to my tinfoil hat.
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As obvious as it sounds, I still cant understand why people dont hedge and invest some money in gold. Not saying a massive amount or all etc etc.

With all the central banks and countries buying gold in the last couple years makes you wonder.. why?

Maybe I'm just too bias and have my own agenda to fill...
 
Ridin high, you probably did not get a genuine real wage rise like you think, inflation running at 3.5% odd and then tax. To actually get a genuine 3.5% rise on average you need to get a 5% wage before tax, if your not getting at least 5% tax then you are in fact losing money, allowing for inflation,

Hey why do you think that real wages are lower today than they were 30 years ago. Most miners would not even be aware that they are on average earning substantially less in real terms than they were 20-30 years ago. My brothe rin law in the early 80's was earning 65 grand at Mount isa mines as a labourer. Now working on the inflation rate of 3-3.5% per year adn then allowing for a one thrid taxation rate, we roughly end up with our 5% is the real money you need to earn every year to keep pace with inflation.

Well guess what get 65 grand and earn 5% compound per year for 27 years and the amount comes to 242674.66.

Now go to Mount Isa mines and I guarantee you that the average miner is not earning anymore than about half of that.
 
AlrightJack said:
Would the USA allow a new currency to become the world reserve?

They've started wars over less.
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The USD wouldn't disappear, it would just be worth nothing.

Plus they might actually encourage it, especially if it's gold backed, considering they hold a lot of foreign gold, currently......
 
hi all
I think you will see a new world currency
and it won't be a dollar
we see three real currencies
china
india
and europe ( not the uk or the norms)
the euro was held by problem states but we will see a new coin not sure who it will be
how to hedge your bets
don't buy into gold buy into banks that hold gold
look for the banks that are holding gold
not like us banks with said gold
but banks holding real gold
big difference
watch for a very small currency start to grow fueled by china or india
it won't be their currency but will be fuelled by them
they get in at the base and rise it
currency is a river of money you have to watch where it flows to
and the us is not anywhere I see it flowing
for me vietnam, thailand,indo china or a indo china country, congo,angola even a mongolia is where the coin will come from
once china/india/europe accept it as a buy and sell coin that will be it.
 
Aaron Sice said:
The USD wouldn't disappear, it would just be worth nothing.

Plus they might actually encourage it, especially if it's gold backed, considering they hold a lot of foreign gold, currently......
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It'd be like the Zimbabewe currency.

The likely contenders in the next generation should be the Chinese Yuan or the Euro, though you'd think the yuan was more likely
 
AlrightJack said:
Would the USA allow a new currency to become the world reserve?

They've started wars over less.
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When they dare to start a war against Nth Korea or Iran which only apparently has 1 or 2 nuclear missiles rather than bomb some outback country like Iraq, I'll take their threats a bit more seriously.
 
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