Tuesday, February 15, 2011

Pressure to Dump the Dollar as the Reserve Currency Continues

SEE HERE France wants to move away from the dollar as the reserve currency. The problem is that that's a hard move because there is no other single society with enough capital to bankroll the reserve so they have to move to some kind of multi-currency system. Ultimately this could move towards a world currency like the Euro which would also be a move towards world government. Neither of these are good for sovereignty. I'm not prepared to see the U.S. knuckle under to a world court, a world governance system or a world currency, thank you very much. But if the move away from the dollar continues then all those dollars come home and that sounds like a lot of inflationary pressure possibly in a short time.

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