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US Dollar Reserve Currency

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June 02, 2008 – Comments (1)

Some headlines leave me laughing.  No kidding Paulson is committed to dollar as a reserve currency.

That status was grossly abused, kick, punched, beaten and left to die.  I doubt talk with prevent the death.  Serious fiscal surgery is needed and even with that recovery would be difficult.

1 Comments – Post Your Own

#1) On June 02, 2008 at 10:07 AM, mandrake66 (96.32) wrote:

No doubt that status was as grossly abused as you say. But do you think the world is ready to try something new? The amount of financial re-engineering required is daunting, and there is still no serious replacement candidate. The euro is the only one worth considering, and I don't think it has enough of a track record to give anyone confidence. I think there's a significant chance it won't last a generation.

The mismanagement of the dollar and, by extension, the U.S. economy is extraordinary, though. 

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