snakenobi said:
Viper1 said:
snakenobi said:
Viper1 said:
Replacing the world currency is no easy thing to undertake and would require many, many years to transition. Even as bad as the US dollar is right now, it's still the most stable of the major currencies.
I agree with China on the halting the purchase of T-bonds (which I think they should have stopped doing many years ago) but I don't think they'll bet able to get a new reserve currency standard going unless the US dramatically implodes.
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stable?
they keep it that way by borrowing
no currency is stable for long
the country needs to keep it at the level of borrow
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5 midgets are standing in line. The one at the end is the tallest of all 5. Does that mean he's tall or just taller than the others?
When I said the US dollar was the most stable, that doesn't mean it is stable, just more so than the other major curencies.
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and i said its not
us government is just keeping it stable but that won't go for long as they can't just keep on borrowing.
you have to repay the debt too.
dollar is stable as US isn't the country it used to be and the government is borrowing to keep it at the old rate
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The only other really major currency in the world is the Euro and compared to that the US Dollar is rock solid.
Also a world reserve currency would probably turn out badly - it'd require a whole lot of leaders from a whole lot of countries to agree on stuff occasionally.
