Jesse's Café Américain Mon 2009-12-28 16:22 EST
What Will the World Reserve Currency System Become? The Stakes Are Enormous
The deterioration of the dollar reserve currency regime is obvious.If we have forecasted correctly, the world will look to some variation of the IMF's Special Drawing Rights as an eventual replacement for the US dollar. Therefore, the recomposition of the SDR next year will become a lightning rod for the global stresses created by an increasingly unstable and impractical system of global trade...A new global currency should replace the US dollar as the international reserve currency, as the long-term deterioration of America's economy and the greenback is fuelling a "currency-regime crisis," says Martin Wolf, associate editor and chief economics commentator of the Financial Times.
Enormous; Jesse's Café Américain; stake; World Reserve Currency System Become.