Special Drawing Rights...

[Decker]

This bothers me.

http://www.cnn.com/2010/BUSINESS/06/29/un.report.dollar/index.html?hpt=T2

So many people that don't seem to give a damn about national sovereignty that I could see this coming to pass. Going to be very ugly if it does.

-d

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[Wenis]

The special drawing rights would be backed by a basket of currencies, which would make them less susceptible to volatility in any one currency.

This is exactly what happened with all the default mortgage loans. Bad loans were bundled together with good loans and sold to other banks. And if I remember correctly, that plan sucked.

If you haven't figured this out yet, the dollar is going to have hyper-inflation within 5 years. It will be worth about 2 cents per dollar according to historical patterned predictions.

 

[Jamie6.5]

One day, not long from now, it may well be a bushel of wheat or rice. Not easy to store/transport or keep from spoiling though, so certificates will be issued.

 

[Trlsmn]

Here's a person holding up a 50 Billion Zimbabwe Dollar note.


Children in Germany in 1923 playing with the now worthless money.

 

[Russianfist]

Time to invest in gold again.

 

[absoluterik07]

Time to invest in gold again.

Time to invest in guns if you ask me!

 

[stitchclimber]

Time to invest in guns if you ask me!

its people like you that scare me. those that will only invest in a source of violence to secure their future. rather than investing in their future and then investing in a means of protecting that future.

Its people that stockpile guns and ammo but no food or gold that make me have to stockpile extra ammo to fend off those who would be after my food and gold.

 

[Ragingpit]

I would like to recommend this series for people to watch on this and other topics
YouTube - Crash Course: Chapter 1 - Three Beliefs by Chris Martenson

 

[absoluterik07]

its people like you that scare me. those that will only invest in a source of violence to secure their future. rather than investing in their future and then investing in a means of protecting that future.

Its people that stockpile guns and ammo but no food or gold that make me have to stockpile extra ammo to fend off those who would be after my food and gold.

I'm sorry but in what way did I say I was investing in violence? I specifically said invest in guns. I never even mentioned violence. Guns hold their value reasonably well and can become a great item to trade for food or other items etc. Plus with the amount of gold you bought instead of guns you don't get any practical applications out of it like hunting for example. You can try to hunt a deer with a bar of gold but I'll stick to my rifle thanks.

 

[EZLivin]

This bothers me.

Dollar should be replaced as international standard, U.N. report says - CNN.com

So many people that don't seem to give a damn about national sovereignty that I could see this coming to pass. Going to be very ugly if it does.

-d

It is an absolute certainty. The current world reserve currency ($USD) will be replaced with the SDR. International trade will be done via SDR. National currencies will exist (for now) but Americans will have to get used to what it means to not have the status of having the world's "favored" currency. Fortunately, the $USD losing its reserve status is so evident that just about anyone could recognize the situation if they bothered to pay a little attention (but alas, most Americans are too dumbed down to notice, or to understand the ramifications). Do I like it? HE** NO, but it was inevitable (no currency retains international reserve status for long). What really bothers me is I keep thinking "Book or Revelation" when I consider where the SDR could eventually lead.

FWIW. Wealthy individuals have been accumulating gold, diamonds, other precious metals, and collectibles for some time now. The trend continues.