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U.S. Dollar Will No Longer Be World Reserve Currency

U.S. Dollar Will No Longer Be World Reserve Currency

NoWorldSystem.com
October 10, 2009

The collapse of the U.S. dollar as the world’s leading reserve currency has been confirmed by Robert Fisk who wrote a revealing article about how China and other G20 nations wish to collapse the dominance of the U.S. by replacing the dollar with a basket of alternative currencies (including gold) in the form of SDR bonds created by the IMF.

“It’s interesting that China has not come out with any huge denials, Russia of course has up to a point and the Gulf arabs. But it’s in the interest of the arabs and all of the nations involved to deny this is happening at the moment. But we’re talking about a project that would not actually have its fulfillment; de-dollarization, for another 9 years.”

http://www.youtube.com/watch?v=BrD9sBBFFrc

Both Fisk and Max Keiser agree that when the U.S. dollar is replaced it will be a devastating hit to the country’s political influence around the world, Keiser agrees saying; “The mid-east doesn’t want to finance America’s wars anymore, because the U.S. dollar’s world reserve status gives America an incredible leverage in financing wars that they really don’t have to pay for. China, Russia, and Iran are paying for America’s wars in Afghanistan, Iraq and in possibly in Iran.”

http://www.youtube.com/watch?v=D7dH4e8HYFA

Keiser believes world de-dollarization will occur a lot sooner than what Fisk predicts will happen in 2018. Since the dollar is still being de-valued by the Federal Reserve’s continual plans to increase interest rates that will only expedite the collapse of the dollar making G20 nations switch to SDR bonds much faster than expected.

Gerald Celente weighs-in; “You can’t print phantom money out of thin-air, backed by nothing and producing practically nothing without destroying the dollar. They’ve been doing it for decades, it accelerated in 2008 under George Bush and is building trade deficits” “the tarp program that cost an access of $700 billion dollars to bailout the failing banks and financial institutions and then it was re-instituted to an even greater number by President Barack Obama printing another several hundred billion dollars worth of valueless money, and the whole world knows it!”

http://www.youtube.com/watch?v=JaZrW-aPyfc

Jim Rogers calls Fisk’s story a rumor, however agrees with the other analysts who say that Washington D.C. is purposefully de-basing the dollar. Rogers says countries like China are waking up to the dangers of currencies that are backed by nothing and inching towards real commodities like Gold, Silver, Nickle, Zinc, Copper, Sugar, Coal and Oil just to name a few.

http://www.youtube.com/watch?v=HM3k9uGAUsA

 


1 Comment so far
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I agree that US dollars are practically worthless. I’d like to see documentation or source for your info. I just like info verification.
Much appreciated.

Comment by freeborn




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