It is becoming pretty obvious that the US Dollar is on its way out as a foreign reserve currency. But what is its replacement? It is the Euro, in only five years, the Euro accounts for 30 percent of world currency reserves and this percent is only going to increase. The Kuwaiti government already started to dump its reserve of US dollars in order to diversify, this might seem like small news but it is a big red flag when a country like Kuwait can dump the greenback. The Chinese are going to become an even bigger liability for the Dollar, they finance Americas massive debt but not for much longer, especially after Fan Gangs comments at the World Economic Forum in Davos. This all will not immediately effect the US economy in the short run, but in the long run this will be potentially devasting.

The Euro is going stronger, and the US Bucks are going down the drain.
Soon, you will not even be able to purchase stuff in Europe using your greeny. I went to Paris a few months ago, I was amazed to see how worthless my dollar bills were. It was like I was in the caribbean, under a slim budget. Buying a decent meal, a few years back, used to be a few bucks. But now, my friend, you need more than a packed wallet to go to the restautant and use your US greeny. It's all about the Euro and its powerful exchange rate over the dollar.

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Something that bothers you, just flush it off and wipe the remaining patiently. RS-Stanislas

Go to london and see how its there then. The pound is the strongest as of now.

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"I got my period while lactating." - My classmate in physio class.

Yeah exactly, if you can afford to live in the UK everywhere else in the world seems so cheap. I'm going to Japan in a couple of days, and even there most things are a lot cheaper than here in the UK. When I used to live in London, that was the worst. I'll convert some prices to USD,

1 large pizza hut pizza: $32+
a pint in a pub: $7+
Can of coke (330ml): $1.20
Whopper meal from BK:$11

The best example I've seen is the new Audi Q7. Comparing exactly the same car between the US and UK, in the US it's about $60000, in the UK, over $100000. The strength of the pound is killing us in some regards, but its a huge benefit when I go travelling.

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"Mr Churchill, you are drunk!"
"And you, my dear, are ugly. In the morning, I shall be sober"

"We shall defend our island, whatever the cost may be"

The competition between the U.S. Dollar and the euro, and among other currencies is risky because there may be a sudden loss of confidence in any one currency. For this and other reasons, it's far better for the world to move as soon as possible to a Single Global Currency.
The Single Global Currency will be managed by a Global Central Bank within a Global Monetary Union, just like the European Central Bank within the European Monetary Union, or the Eastern Caribbean Central bank, etc.
The benefits of a Single Global Currency will be substantial:
- Annual transaction costs of $400 billion will be eliminated.
- Worldwide asset values will increase by about $36 trillion.
- Worldwide GDP will increase by about $9 trillion.
- Global currency imbalances will be eliminated.
- All Balance of Payments problems will be eliminated.
- Currency crises will be prevented.
- Currency speculation will be eliminated.
- Currency fluctuations, and the need for hedging, will be eliminated.
- The need for foreign exchange reserves, now over $4 trillion, will be eliminated and these funds can be used for more productive purposes than maintaining an inefficient foreign exchange system.
If a monetary union in Europe works for 13 countries, soon to be 22, then why not plan for monetary union for 192 countries?
For more information, please visit the website of the Single Global Currency Assn. at (home). Our goal is implementation by 2024. I've written the book, "The Single Global Currency - Common Cents for the World" and invite comments, suggestions and criticisms. The 2007 Edition is available from Amazon.com and the Single Global Currency Association, and the original 2006 version is online at the association's website at http://www.singleglobalcurrency.org/book_about.html and at the REPeC Munchen personal archive at http://mpra.ub.uni-muenchen.de/1175/.

Thanks for this reminder!

The pound makes us look like a third world country then. Jesus!

I was dealing with that dude on ebay, he told me that stuff was 14 bucks. I did not realize he was referring to UK's big bucks until I look at my bank statement. That was almost twice as much of the US currency.

Who's your daddy, US greeny? We better rethink the whole.

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Something that bothers you, just flush it off and wipe the remaining patiently. RS-Stanislas

dude the fall of the US economic status is grossly exaggerated. we still are the strongest economy in the world and we still control the economic viability of EVERY other major country in the world.

the dollar has dropped recently, but in the end we can easily change that by adjusting our trade w/ other countries. the dollar will never become the peso.

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But remember that, even when those who move you be kings or men of power, your soul is in your keeping alone. When you stand before God you cannot say "but I was told by others to do thus" or that "virtue was not convenient at the time." This will not suffice. Remember that.

According the World War Z, Cuba will be the economic powerhouse of the world after the zombie plague.

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the guys from hot fuzz will save us...but who will save us from the black sheep?!!?!

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But remember that, even when those who move you be kings or men of power, your soul is in your keeping alone. When you stand before God you cannot say "but I was told by others to do thus" or that "virtue was not convenient at the time." This will not suffice. Remember that.

Who cares............

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