Obama is taking us on an inflationary path toward bankruptcy which will destroy the dollar. Hold on to your gold until the 'Pubs get control
I think you are cherry picking here. The euro was the only possible alternative to the dollar until quite recently. The Greek crisis exposed some real flaws to the EU in general but if you look at the dollar index the euro makes up by far the biggest percentage of its calculation. I'm not saying the euro will be the next reserve currency but the dollars reign will only last until a viable alternative is found and then the flood gates will open. The FED cannot raise interest rates to defend the dollar with the amount of debt in the american economy without sending the country up in smoke. Besides that the powers that be in the US would be delighted to see the dollar weaken steadily. Anyway, to dismiss the euro as having been a real challenger to the dollar is inaccurate.
The numbers are not mine, they are the sources. The Euro is not one of the most stable currencies out there. Not a chance. Whose currency is going to emerge that is more stable than the dollar? One may challenge it someday, but there will be no flood gates bursting open suddenly. I didn't say that. I said that the dollar is the most stable currency and is likely to remain so.
The dollar will be replaced at some point. It is just a matter of when. It is just a guess but I would say in the next 5-10 years. That's soon enough for a system that has been around since WWII.
Based on what? What is the viable alternative that already exisits? If the answere is nothing, where will this other currency come from? America's economy and power is so relatively colossal that the rest of the world moves as we move. I don't contend that we will always be THE SUPERPOWER, but today nobody else is close. It would take severe advancement from someone else to catch us.
Well, here are some of the parties that are against the dollar remaining the global reserve currency: Basically my point is that the dollar as reserve currency is part of the US government's position as global hegemon. As this status is currently waning and will eventually be replaced by some sort of multi-polar global governance the other parties involved will naturally want to be able to exercise some economic independence. It will be negative for the US standard of living but positive for the rest of the world. So if is good or bad depends on where you live.
