Anonymous
Anonymous asked in Politics & GovernmentPolitics · 1 decade ago

Do Americans understand why this is such an important story?

By Stephen Brown

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ROME (Reuters) - China, Russia and Brazil will use this week's G8 summit in Italy to push their view that the world needs to start seeking a new global reserve currency as an alternative to the dollar, officials said on Tuesday.

http://ca.news.yahoo.com/s/reuters/090707/world/in...

Some nations have dumped their use of US dollars . China buys oil from Iran in Yuans not dollars

There is no international law demanding the US dollar be used in international purchases ----- but it has been used in almost all international markets as the world reserve for decades

Nations which buy oil horded US dollars - Nations bought Treasury bills and dollars to trade on the global market for their nation

As such the US is the only nation with the privilege of paying its debts in its own currency Other nations have to buy US dollars to pay their debts

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If the US dollar is dumped and nations no longer have to buy US dollars to purchase oil or international goods or pay off their existing debts with ------------- trillions upon trillions will flood the open market places --------

Hyperinflation worse than Zimbabwe

Imports will almost imediately drop to zero ---- and import dependant industiries will declare bankrupcy and food will cause riots in the streets

Do Americans understand why this is such an important story ?

13 Answers

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  • mety
    Lv 5
    1 decade ago
    Favorite Answer

    No, Trout, they don't. Furthermore, they don't WANT to know. They are so busy toying with their Wii's and playing voyeur into the lives of celebrities (and politicians) that reality is a serious annoyance to them.

    They are busy playing the blame game and rooting for "their" side, they just will not listen to or believe that this is happening, much less, that it's happening BY DESIGN. EVERY president since Kennedy (at least) has played their role in the controlled collapse of America, and the destruction of it's dollar. According to Ralph Nader, the machines are already built that will be the new global currency "readers", we will not have paper or coin money, but rather a "chip" that is read. There will be no privacy in our lives what so ever, the "chip" will decide what we are entitled to and if you are annoying to your new masters, they will simply turn off your chip. No chip, no life.

    The bankers have long ago laid out their plan for global domination of the rest of us by the few "elites"; it's why they are bankrupting us by printing trillions of dollars of fiat money that is becoming more worthless by the moment. Their plan for the New World Order is coming along quite nicely, so well in fact that they are not even trying to hide it anymore. They want to reduce the population of the world by two-thirds, war accomplishes some of that, but they will end up starving a good number as well. Since they have allowed a few corporations take over our food supply, THEY will decide who eats and who doesn't.

    Courageous people have tried, again and again to warn us, they usually die shortly afterwords (Kennedy died 10 days after warning us about this), Eisenhower tried as well.

    As far as I'm concerned, America was dealt the death blow on Nov. 22, 1963 and we have been on life support ever since. They are getting ready to remove our feeding tube.

    End game is in sight.

    If you accept this is what is going on, it explains so much of what is going on; Americans were so shocked at 9/11 - "how dare they attack us on our soil", never mind how many countries WE have attacked on THEIR soil, they will be just as shocked when this hits the fan as well. Not because nobody tried to tell them, but rather that they chose NOT to listen, not to spend the time educating themselves and CHOSE ignorance.

    There are none so blind as those who will not see....

    Source(s): Note: Saddam started trading his oil for Euros shortly before we decided that he needed to be taken out. I believe that is the reason why suddenly he had to go. We stood by while he gassed his own people for years, we even supplied him with the gas. All the justifications that we have heard for taking him out are just smokescreens for the truth.
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  • Anonymous
    1 decade ago

    There's nothing they can do about it. The last guy to try selling his oil in Euros got hung by the neck until dead, Saddam sensibly wanted to get out of dollar trading before the dollar went down the pan. Even w. Iraq in it's pocket and the world oil markets subdued the up and coming super powers are going to want to trade in currencies that are in their ascendancy, the worm has turned around..

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  • Anonymous
    1 decade ago

    The dollar was dumped years ago in favor of the euro. Bush was in office when the dollar ceased to be the gold standard for the global economy, and in the long run I think that will be a bigger part of Bush's legacy than the war with Iraq.

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  • 1 decade ago

    Sorry but Americans are mourning Michael Jackson right now, everything else is unimportant.

    On another note isn't it ironic how as a society we believe we are so much more advanced and knowledgeable than others throughout history, yet most people couldn't find Brazil on a map and don't give a crap about preventing hyperinflation, they'll just whine once it happens in the U.S.

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  • Anonymous
    1 decade ago

    This is one more example of other nations rebelling against US intervention in their economies. Now the shoe is on the other foot, and if the USA doesn't clean up their act, their economy will deteriorate even further.Many Americans don't understand and are more preoccupied with Michael Jackson. People had better catch on, and fast

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  • DAR
    Lv 7
    1 decade ago

    Some of us do.

    Russia and China have to be careful because they hold so many. But 130 billion or so in US treasury bonds were discovered in a suitcase in Italy recently and it is speculated that a government was trying to surreptuously dump some without causing a run.

    The main thing is we have to maintain our sovereignity over our financial system which Obama is determined to give away and already began to give away at the G20 and with the financial revamp power grab he is supporting.

    If we maintain our sovereignity we maintain our leverage. Otherwise, not.

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  • Power
    Lv 7
    1 decade ago

    Dr. John (above) is right. I have to admit I am not educated & while people can get angry at me it is like getting angry at an infant for not passing a colledge exam. So your answer is NO, Amercians do not know the importance. I have to rely on miracles & belief in that kind of stuff to survive.

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  • 4 years ago

    Lil Lebanese spirit thinks he/she can make Grundy cry? lil Lebanese spirit is right Grundy touched..Grundy like Lebanese Spirit words... Rock is Grundy now.. LOL

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  • Anonymous
    1 decade ago

    Yes, this is the problem with fiat currency.Nothing of real value backs it up.

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  • Anonymous
    1 decade ago

    LESS USE OF OUR CURRENCY MEANS LESS CONFIDENCE IN IT

    THAT MEANS IMPORTS WILL COST MORE

    EXPORTS WILL EARN LESS

    AND WE MIGHT HAVE TROUBLE FINDING MONEY TO OPERATE THE GOVERNMENT OR THE COUNTRY.

    BUT OTHER THAN THAT, THINGS WOULD BE JUST PEACHY

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