the leftist progressive regimes of the world have wanted to supplant the american dollar as the medium of international exchange for a long time now.
and, if they could have come up w/ another national currency to do so, they would have. they simply haven't been able to find any national currency that is in much better shape than the dollar, and that is the fact of the matter.
the u.s. dollar is "backed" by the printing press. it is institutionally unstable, and the continued borrowing and mounting public, private and governmental debt threatens total monetary collapse. and, so it goes in the u.s., with the current regime and its idiot doing their level best to bring the whole house of cards down.
this is not a good situation for a "currency standard" or "medium of exchange" to be in. that is the inescapable truth, it is just not a good situation for us or anyone else for that matter.
name another national currency that is not debt ridden, and that has not the same institutional debt "backing" it. the fact is, that compared to the rest of the national currencies, the united states dollar is in a favorable position. if that were not the hard truth of the matter, the u.s. dollar would have been "displaced" as the trading currency long ago.
so, what is this currency reform in the wind, that has everyone shaking in their boots?
who knows? i don't know. i don't sit on the federal reserve, and i don't sit on the board of the international monetary fund? and, i sure as hell don't hob nob with the idiot obama.
but, i'll make a guess. i don't think the international consortium of leftist, they call themselves progressives, is looking for another national currency to take the place of the dollar. nor do i think that the euro will be proposed as a substitute for the dollar .... the euro has its own problems.
there are several other reasons that the dollar will not be supplanted by a national currency, and those reasons are china, and the middle eastern oil nations. they already have enough worthless dollars in their coffers, and they have no interest in making them totally worthless dollars overnight. would you like to have vaults full of confederate dollars?
i think they will propose an "international currency," a brand new one, and all the national currencies will trade against it. in short, the international bankers will try and make themselves a defacto, if not de jure, international government.
it's been tried before.
it hasn't worked very well before, and i doubt very much it will work very well this time, if that is what they try. and, as joe stalin remarked about the vatican at one point, "how many divisions does it have?"*** joe may or may not have been the sharpest chisel in the cabinet, but, he did all right, and he had a way of getting down to the essential elements of the questions & issues before him.
you may regard the coming upset as the relative calm before the entire system falls flat on its fucking nose. the transition period won't take very long.
john jay @ 05.14.2015
p.s. a friend since departed, jack riehl, used to argue whether money was real or not. he said no, i said i don't know, but it sure acts like it is. the fact is, that debt must be paid, sooner or later, or the "system" does not work. the simple fact is, you don't pay your debts, you access to money dries up.
this business of debt without paying goes on for so long, and pretty soon (and inevitably) somebody calls their markers. this is the "foundation" upon which the international house of cards is built. it is a house built on sand, out of cards, and, sooner or later, it comes down.
but, not before the boys who are smarter than you and i have skimmed the value out of it.
you figure it out.
*** you don't pay your debt to the international monetary fund? who do they send to collect it?