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View Diary: Ireland ready to take the Euro hostage (256 comments)

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  •  What is an SDR? (0+ / 0-)

    Since about 2005 I've been saying that TPTB are pushing forward despite common sense and self preservation because they want to break it now.

    If it is broken now, it's a total lose money but gain marketshare.

    Right now TPTB have everything:

    1. Powers of Production
    2. Military
    3. Media
    4. Food
    5. Water - kind of
    6. Real Estate
    7. I'm sure there's more....

    These vital institutions are totally owned by TPTB. If the system crashes now, they own the place.

    But if, instead, TPTB take actions to mitigate the problem we will have a 30-50 year slide where they will hemorrhage power. They will be slowly stripped of power and will becom the pariahs of history.

    It's a no brainer, double down and take the plunge.
    peace

    Democracy - 1 person 1 vote. Free Markets - More dollars more power.

    by k9disc on Sun Feb 27, 2011 at 08:07:27 PM PST

    [ Parent ]

    •  Special Drawing Rights (1+ / 0-)
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      k9disc

      It is a monetary instrument of the IMF.  

      http://online.wsj.com/...

      The speculation is that this would be used to replace the dollar as the world reserve currency.  Local currency might remain the same, but it would not be used for international transactions.  Presumably each currency would float against the SDR.

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