U.N. panel says world should ditch dollar
Wed Mar 18, 2009 11:16am EDT
By Jeremy Gaunt, European Investment Correspondent
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LUXEMBOURG (Reuters) – A U.N. panel will next week recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies, a member of the panel said on Wednesday, adding to pressure on the dollar.
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The end of the US Dollar as the World’s reserve currency? That would be unbelievable. “Everyone” said that it could never happen! SO, what happens when it does? Are we on the road to being like Zimbabwe?
Why are we still funding the UN. We should ditch them!
Gold and silver — the Dead Old White Guys were right — The Palladium rounds (i.e., medallions — the Gooferment gets mad if you call them coins. But thy look like coins to me.) at about 300$/oz seem like a bargain. Rarer than Platinum at 1200$/oz.
But, plan for a Carter-like inflation; did you see Carter visited the Obama White House yesterday. Why? To get advice on how to print “Whip Inflation Now” buttons?
Will Obama on Leno distract everyone with how incredibly screwed we are? And what a good guy he is personally.
Humbly, I think he’s drowning us in the deep end of the pool while he tries to distract us. Ain’t gonna work. At least, I’m not distracted as to what this means to us low fixed income folks. I hope it’s not distracting the People or you.
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