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View Diary: Consequences of the $1T coin (14 comments)

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  •  They've tried, can't do it (1+ / 0-)
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    Sandino

    The Euro is backed by a consortium of countries that are in various states of economic health and political upheaval.  It is unlikely to selected as the reserve currency of the world in the next several decades. Indeed, were it not for France and Germany, it would collapse.  And France isn't all that healthy either.

    There is so much US Dollars overseas and so much trading IN USD between other countries that our currency is not likely to be in less demand anytime soon.

    The Chinese have tried to devalue our currency and failed.

    Saddam Hussien tried to establish an oil Bourse in EUROS and got his neck rung for the trouble.  

    The only possible alternative is some super currency based on a basket of world currencies or out right world currency.  That would require a level of political stability and cooperation that plain just doesn't exist in the world.  Look how much effort Republicans have put into neutering the United Nations and International Agreements.  

    So, for the foreseeable future, the US Dollar is still almighty.  

    --United Citizens defeated Citizens United...This time. --

    by chipoliwog on Tue Jan 08, 2013 at 07:17:18 PM PST

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