World Bank says don't take dollar's place for granted

Discussion in 'Economics' started by saliva, Sep 28, 2009.

  1. WASHINGTON (Reuters) - World Bank President Robert Zoellick said the United States should not take the dollar's status as the world's key reserve currency for granted because other options are emerging.

    In excerpts released on Sunday from a speech that he is to deliver on Monday, Zoellick said global economic forces were shifting and it was time now to prepare for the fact that growth will come from multiple sources.

    "The United States would be mistaken to take for granted the dollar's place as the world's predominant reserve currency," he said. "Looking forward, there will increasingly be other options."

  2. What options? IMO he should be explicit or keep silent. I don't think his position allows for such vague statements.

    Another one who is trying to help the dollar break through its support levels.

    Isn't that like an intervention the last few days? A lot of "personalities" try to talk the dollar down.

    '"We need a system of international political economy that reflects a new multi-polarity of growth," Zoellick said. It needs to integrate rising economic powers as 'responsible stakeholders' while recognizing that these countries are still home to hundreds of millions of poor and face staggering challenges of development.".

    Sounds like modern Marxist to me. There are no rising economic powers. There are just places where the industrial nations have outsourced manufacturing. There places/countries should be grateful to share the wealth of those who have invested trillions in R&D and education over the years and have achieved stable political systems. Transferring of wealth should not be enforced by upsetting the currency system like China has been doing for years by keeping its currency artificially low against the USD.
  3. achilles28


    Zoellick is a consummate neocon.

    Prominent Dems and Repubs are warning the death of reserve status.

    Its planned. They're gonna do it. The economy, Country and 'common sense', Be DAMNED.

    Look out.
  4. Achilles, read this:

    "In an essay in the New York Times Magazine in 2006 that was strongly critical of the Iraq invasion,[10] Francis Fukuyama identified neoconservatism with Leninism.[10] He wrote that neoconservatives:

    …believed that history can be pushed along with the right application of power and will. Leninism was a tragedy in its Bolshevik version, and it has returned as farce when practiced by the United States. Neoconservatism, as both a political symbol and a body of thought, has evolved into something I can no longer support.[10]

    Some supporters of neoconservatism, such as Christopher Hitchens and Norman Geras, still regard themselves as Leninists and Trotskyists."
  5. moarla


    didnt know that paper has some value as a reserve... for what ???
    paper in change of ... what???
  6. aegis


  7. Look out is right. Only a fool would ignore the events being set it place. Looks like we are being sold down the river.
  8. The grand plan for a Unified World Currency and UN as the international world global police force.

    UN in the US patrolling etc..

    Black helicopters as well, all from sources deep in Michigan.
  9. Zionists tend to mock anyone who reveals their skeletons.