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Ditch the Buck! Dollar demise ‘a matter of months’

Posted By admin On July 2, 2010 @ 4:26 am In Money Watch | Comments Disabled

Russia Today [1]
July 2, 2010

A report by the United Nations says the American dollar should be ditched as the main global reserve currency. It said that the global financial meltdown has exposed systematic weaknesses, one of which is the reliance on the greenback.

It also found that developing countries have been hit by the dollar’s loss of value in recent years. A number of states, including Russia and China, have repeatedly called for a new reserve currency system. The UN has now suggested using a basket of currencies for this purpose. London-based markets strategist Nick Parsons believes it’s only a matter of months before the dollar will start to go down.

Ditch the Buck! Dollar demise a matter of months  150410banner7 [2]

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URLs in this post:

[1] Russia Today: http://www.youtube.com/watch?v=X-XYK1t6sl0

[2] Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502

[3] U.N. panel says world should ditch dollar: http://www.prisonplanet.com/un-panel-says-world-should-ditch-dollar.html

[4] Medvedev Pushes Ruble Reserve Currency to Cut Dollar Dominance: http://www.prisonplanet.com/medvedev-pushes-ruble-reserve-currency-to-cut-dollar-dominance.html

[5] Chinese Central Bank Outlines Plan To Ditch The Dollar As The Yuan’s Peg: http://www.prisonplanet.com/chinese-central-bank-outlines-plan-to-ditch-the-dollar-as-the-yuans-peg.html

[6] Dollar Plunges After UN Call To Ditch Greenback: http://www.prisonplanet.com/dollar-plunges-after-un-call-to-ditch-greenback.html

[7] China To Challenge US Dollar Reserve Currency Status: http://www.prisonplanet.com/china-to-challenge-us-dollar-reserve-currency-status.html

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