U.N. panel says world should ditch dollar

[RJ Connors]

We are so screwed.

By Jeremy Gaunt, European Investment Correspondent

LUXEMBOURG (Reuters) - A U.N. panel will next week recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies, a member of the panel said on Wednesday, adding to pressure on the dollar.

Currency specialist Avinash Persaud, a member of the panel of experts, told a Reuters Funds Summit in Luxembourg that the proposal was to create something like the old Ecu, or European currency unit, that was a hard-traded, weighted basket.

Persaud, chairman of consultants Intelligence Capital and a former currency chief at JPMorgan, said the recommendation would be one of a number delivered to the United Nations on March 25 by the U.N. Commission of Experts on International Financial Reform.

Source: http://www.reuters.com/article/newsOne/idUSTRE52H2CY20090318

[hlthe2b]

1. Bring on the wheelbarrows....

:mad:

[Cronopio]

2. Inevitable.

I'm sure many multinational companies are on board this plan.

"Who cares if we're crashing the biggest and most productive economy in history? We'll just build another one somewhere else!"

[lazer47]

3. If they don't like American Greenbacks,, send back all the foreign aid

if they find it so objectionable.

[RJ Connors]

8. Here in a few months that may be a viable option for them.

Since it will be worthless anyway.

[Confusious]

4. Ahh, So the economists prove once again

THERE IS NO SCIENCE INVOLVED IN ECONOMICS. I could pull shit out of my ass and call it assonomics, at would be about the same.

Dump the dollar, things go very bad for us, but also bad for the rest of the world. Everyone will be hurting more then they are now. Great depression would be small fry compared to what would happen.

When did the IQ of politicians around the world drop below 70? Did gw have a stupid disease that he passed on?

[RJ Connors]

7. Unless of course the rest of the world is willing,

to take the hit to get rid of us. But you've thought about that haven't you?

[tom_paine]

5. Of course they should. Our nation is bankrupt in many more ways than one.

But we hold a gun to the global head. Keep giving us your money...or we'll kill you. Keep giving us your money...or the Ponzi scheme that is now the Global Economy will crash fully (it will probably do so, anyway) and you will taste the pain in other ways.

1,300,000 dead Iraqis and 2,000,000 ghettoized Gazans make a lovely example, don't they?

:puke:

[RJ Connors]

9. "Our nation is bankrupt in many more ways than one."

You've got that right. Instead of focusing on the so called sins of abortion or homosexuality maybe we should have been focused on the sins of pride, greed, and arrogance, since there was so much more of that.

Also, see my post #7

[wackywaggin]

6. Blame it on the Bush/Chenay cabal

They are traitors and dropped an economic pearl harbor on this country.

[RJ Connors]

10. Actually, it's been building for a lot of decades. n/t

[Rebubula]

14. As much as I....

....would like to lay this whole mess on the doorstep of the Bush Administration - I cannot honestly do it.

This problem has been building for decades and has so many more factors that 8 years of those assholes.

There is a lot of blame to go around and a lot of factors that were out of anyone's control.

[LynnTheDem]

11. Probably a good thing.

Every empire crashes & burns sooner or later, and we have not used our empire-ness for good things.

Yes we have done good things...but as cover for the bad.

[Politicalboi]

12. I wonder if this

Is a Bush cabal to make Obama fail. Nothing would surprise me with that bunch.

[ixion]

13. "Do you hear that, Mr. Anderson? That is the sound...of inevitability"

One of my favorite quotes from "The Matrix" and entirely appropriate now, IMO.

[opihimoimoi]

15. OMG...Bush killed the DOLLAR TOO??????.Add that to the Future of America, the economy,

the hopes and desires of millions of citizens, the Jobs lost,, the shock and awe crap, etc

Molly was right....this man don't hunt for shit.....useless around the house....he don't cook, make small repairs, prolly cannot change a flat tire, and is dangerous with a chain saw.

He was and still is a SLACKER...

a POS he is....