Anonymous
Anonymous asked in Politics & GovernmentPolitics · 9 years ago

should we stop demanding the US dollar to be the reserve currency exporting inflation all over the world?

should the USA stop exploiting the world by demanding the US dollar be the reserve currency of the world by forcing international banks to keep a large percentage of US dollars in reserves, also we force all oil transactions to be in dollars, we also force all international trade to be in dollars. So when we create inflation by printing up fiat money backed only by international demand engineered through political exploitation this exports our inflation all over the world while we reap the benefits isn't this immoral and wrong too do shouldnt we have sound money in America?

Update:

we force the demand through our military and political exploitation why you think we invaded iraq they used to be our allies

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  • pgreen
    Lv 6
    9 years ago
    Best Answer

    The real problem is

    * not the US dollar "domination", which is declining and less and less

    trusted as a world reserve currency and a reliable standard of value,

    * but the fact that no other currency, whether the euro or the yuan is

    apt to fill the need either.

    Not even gold would be adapted, as its price is too volatile and as

    it would create its own problems (mining, storing and delivery costs,

    deflationary bias as its supply is not correlated to the world economic

    activity...)

    There is a general distrust towards all major currencies, as seen

    in the Forex (foreign exchange market) volatility. This can bring

    a general monetary collapse. We already had enough crises since

    2007 not to add a monetary one!

    Therefore, the lack of a true world monetary standard (Womost) and

    of a world monetary institution (Womoi) to supervise it is an issue

    that has to be solved urgently.

    The G20, the IMF, the UN or whatever, has to move its bureaucratic

    *** (a word censored by yahoo ;-)), and the national clans that keep

    bickering at one another have to agree on something creative and

    realistic before the current monetary system (or lack of system)

    bring another general meltdown!

    .

  • jakepi
    Lv 6
    9 years ago

    The world economy is driven to institute deflation, but the FED's have decided that inflation will be the order of the day. They oppose the natural order of things and we will all suffer because of it! The global economy has to be allowed to settle down and reach it's own natural level and direction of activity.

  • Boober
    Lv 6
    9 years ago

    It was the chosen currency. Not so much lately. If we go back to the gold standard, most of us can say bye bye to our homes and vehicles, and hello to cheese lines.

  • bond
    Lv 7
    9 years ago

    US does not force the worldwide use of the dollar. In fact in many ways it hurts us. It is the rest of the business people worldwide who insist on the dollar.

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  • 9 years ago

    Who is demanding, it is. The real trick is getting China to release the YEN

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