The Phaserl


Voices Grow Louder To End The US Dollar’s Reserve Status

from ZeroHedge:

When no lesser establishmentarian than Obama’s former chief economist Jared Bernstein called for an end to the US Dollar’s reserve status, it raised a few eyebrows, but as the WSJ recently noted, the voices discussing how the burden of being the world’s reserve currency harms America, more than just Vladimir Putin is paying attention. While some argue that “no other global currency is ready to replace the U.S. dollar.” That is true of other paper and credit currencies, but the world’s monetary authorities still hold nearly 900 million ounces of gold, which is enough to restore, at the appropriate parity, the classical gold standard: the least imperfect monetary system of history.

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1 comment to Voices Grow Louder To End The US Dollar’s Reserve Status

  • Max

    All fiat money dies, but for now the dollar is strong. Up 11% this year. That’s a 10,000 profit per futures contract. It’s difficult to time these things when everything on Earth is rigged.

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