Dollar no longer the world's reserve currency?

[chozoghost79]

Just watch the vid, and try and ignore some of the hyperbole. Far too much to it to explain on here. The gist is, at the rate our country is borrowing money, soon our creditors will no longer accept the US Dollar for payments, and possibly other countries will no longer accept US Dollars for oil imports. Far fetched but still plausible.

http://www.stansberryresearch.com/pr...VD/6PSIM304/PR

[FArchivist]

Ignore it. Porter Stansberry is a known scammer, tax protester, and conspiracy theorist who has defrauded several people previously.

Affiliated with Alex Jones for his "End of America" video. You can read all about him here.

[chozoghost79]

Yeah now that you mention it, the whole thing sounds like "THE SKY IS FALLING!!" For $99 I can show you how to protect yourself.

[insertNameHere]

Well, Im not gonna watch the video but I can say based on how well the Euro is doing, and the stupid shit they keep spending money on over here, along with the programs they want to implement and wars we don't really need to be in, I can see the dollar doing bad.

[Nyoibo]

I can see the Euro taking it's place fairly soon.

[Rapscallion]

Probably the ... whatever it is in China, actually. The Yurp economy is in the toilet right now.

Rapscallion

[Daskinor]

Meh sounds like, "we need to get back on the gold standard bull crap."

[Boozy]

Well, Im not gonna watch the video but I can say based on how well the Euro is doing, and the stupid shit they keep spending money on over here, along with the programs they want to implement and wars we don't really need to be in, I can see the dollar doing bad.

The US dollar is the single worst choice for a reserve currency, with the exception of every other currency in the world.

I had high hopes for the Euro, and still do, but there are just too many serious problems in Europe right now. Although the European Union was supposed to operate similarly to the US (as an economic system), it doesn't appear to be working. The US will always have more control over, say, New York State than the EU will have over it's member nations.

The EU can and did pressure Greece to curb it's spending, but there's only so much they can do without jeopardizing sovereignty. Iceland is also a mess, and although their GDP is a drop in the bucket, an entire country going bankrupt does make potential Euro investors nervous.