US Dollar Losing Reserve Status

[Dori]

Is the Dollar Dying? Why US Currency Is in Danger

"The U.S dollar is shrinking as a percentage of the world's currency supply, raising concerns that the greenback is about to see its long run as the world's premier denomination come to an end."

"If the dollar loses status as the world's most reliable currency the United States will lose the right to print money to pay its debt. It will be forced to pay this debt," Bove said. "The ratings agencies are already arguing that the government's debt may be too highly rated. Plus, the United States Congress, in both its houses, as well as the president are demonstrating a total lack of fiscal credibility."

[Lacarnut]

I do not think the dollar is dying. Commie countries using their own currency to trade with other countries excluding the US is not that big a concern to me. The Euro was designed to battle the dollar. I do think the dollar is being devalued on purpose. It makes our export cheaper and makes goods sold to other countries more expensive. All the other countries are doing the same thing. Plus, we are the number one consumer in the world and the richest. If other countries will not take our currency, they will be chopping of their nose to spite their face.

The stock market keeps going up and up but one day the bubble will burst, interest rates will rise and derivatives will do a great deal of damage. When that happens the whole world will be in deep doo doo, and it will be a great deal worse than the last several recessions.