US dollar status as world’s single reserve currency will end by 2025

'The United States dollar status as the world’s single reserve currency will end by 2025, according to a new report by the World Bank.

“By 2025, six major emerging economies—Brazil, China, India, Indonesia, South Korea, and Russia—will account for more than half of all global growth, and the international monetary system will likely no longer be dominated by a single currency. As economic power shifts, these successful economies will help drive growth in lower income countries through cross-border commercial and financial transactions.” the report noted.
Mansoor Dailami, lead author of the report and manager of emerging trends at the World Bank, commented that “Over the next decade or so, China’s size and the rapid globalization of its corporations and banks will likely mean a more important role for the Yuan. The most likely global currency scenario in 2025 will be a multi-currency one centered round the dollar, the euro, and the Yuan.”'...

http://en.mercopress.com/2011/05/17...ld-s-single-reserve-currency-will-end-by-2025

 

Dollar takin' a beatin' - gas, gold prices goin' up...

Oil Prices Climb for Sixth Day on Weaker Dollar, Progress in Europe
10/12/11 - Oil prices were rallying for a sixth consecutive day on signs that the eurozone was coming closer to agreeing on a solution for its massive debt woes and a weaker dollar.

See also:

Weak Dollar Pushes Gold Prices Higher
10/12/11 - Gold prices catapulted towards $1,700 an ounce on a weaker U.S. dollar and momentum buying.

 

Wow, all we have is 14 years to go on our global economic hegemony.


Sounds like we should be borrowing and spending while we still can.

 

there is no way the US dollar cn hang on to reserve status until 2025....I am willing to bet it will lose that status in only a few more years!

 

china is already planning a trade zone with russia and brazil and india to do trade in yuans....also china has created a pacific zone which includes singapore, south korea and even japan to trade among each other using yuans....even the middle east is considering a new dinar to do trade with each other...the official date might be 2025 but thats just a formality......I bet that by 2015 about half the world trade will be in currencies other than the US dollar!

 

There is a big problem with the Yuan, and a big reason why China's attempts to get trading partners to use it have fallen flat. The Yuan is not a freely convertible currency.

 

You have been calling for a currency crisis for as long as i can remember

 

perhaps not yet.....but that shall change!

 

1. I only joined this forum about a year ago

2. I have always said 2012 to 2013



PS its not like I can snap my fingers and have it happen tomorrow ya know. Boy these video game people...always got to have action today

 

I will attack our biggest target: China. China is a bubble that can and will collapse naturally or artificially- they are not a true-growth nation. They import everything for manufacture and export it cheaper than anyone- talk about a bull in a china shop.

China relies on America's demand for Chinese products. And without America- the largest consumer in the world- China would be in last place, plain and simple.

 

This is true, but a prosperous, stable China is good for America and the world, not a threat.

Our economic problems aren't the result of Chinese trade or monetary policy --it's a result of rightwing politics in this country which prevent policies that translate the comparative advantages of trade with China into overall wealth, rather than merely the concentration of wealth into the hands of a few.

I would however, squeeze China to end its ban on unions. We negotiated a complex trade deal to allow capital to flow from the US to China, a deal that virtually overthrew their economic system. We're willing to do that to globalize capital, but we weren't willing to make the same efforts to globalize workers rights. We should do so now.

 

You don't remember saying this almost two years ago?

12-4-10
I am willing to bet there will be a currency crisis in the next couple of years!
http://www.politicalforum.com/3203638-post1495.html​

and you don't remember saying this at the beginning of this year?

1-1-11
There is a currency crisis coming soon...whether that be in 2011 or in 2012 I don't know...
http://www.politicalforum.com/3285732-post1575.html
​

And you don't remember saying this 8 months ago?

2-18-11
the US will be facing a currency crisis soon...whether that be this year or next is irrelevant.
http://www.politicalforum.com/3484229-post170.html​

And you don't remember me pointing these predictions out to you?

http://www.politicalforum.com/4284043-post13.html
​

You don't remember denying that you said the exact things you said in those posts?

http://www.politicalforum.com/4284227-post14.html​

Having a selective memory is even more of an advantage than constantly changing the goal posts on your predictions.

Unless your goal is to have any credibility.

 

so whats your point iriemon?

 

Do you figure he suffers from memory loss, or is just an outright liar?

 

This reminds me of CNBC. People come on and make all kinds of wild predictions for various reasons and none of them come true. It's a joke.

I have never seen anyone dressed down in such a fashion on a forum.

 

BWHAHAHHAHAHAH!

Isn't it a blast to keeping track of the failed apocalyptic predictions of the Hayekian wannabees. It's like listening to a religious cult repeatedly announce the end of the world in nigh, and when it doesn't end, they always have an excuse and new doomsday date.

 

a few years can be to or three or more years...how "YOU" want to interpret is well thats your business.

My prediction stands......2012 to 2013!

 

if I said 2011 by accident once so be it.....but enough times I have always said 2012 to 2013.....grasping at straws are we?

 

and two years ago is impossible as I only joined in september 2010! Try again Iriemon

 

By accident... riiiggght. See you and the Mayans in a year!

 

This part of my post was wrong because 12-4-10 was not almost two years but almost one year ago, and I apologize to Bacardi for creating the false impression he was not being honest about saying he only joined the forum about a year ago.

The rest of my post stands.

 

I have said so many times 2012 - 2013. Mind you a collapse can actually happen any tme, thats how unstable and dangerous the aituation is. But then again I cant expect the brain dead to understand that

 

Or from a guy that types things like this:

'Plenty of women I see deserve to get hit. They are begging for it on a daily basis.'

http://www.politicalforum.com/4598343-post30.html

BodyPolitic is clearly a dinosaur.

 

well look at the bright side. With all the infrastructure spending going on, I am sure there are plenty of new bridges to live under for all these brain dead types!

 

if I am not mistaken there are several nations now trading in their own currencies