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155 Comments
- PuterPrsn, on 03/19/2009, -15/+85Thanks, Geithner. That's what happens when you print money for no reason and start the inflation spiral.
- HappyScrappy, on 03/20/2009, -3/+45Inaccurate. The panel says they just shouldn't hold the dollar exclusively.
- billricardi, on 03/20/2009, -8/+48Come on people. Are you really shocked? Really?
The dollar has been in a freefall. It isn't BACKED by anything any more! There's no gold or silver backing your dollar, its just a promise, a hope, and a 'trust me'. Anybody who is shocked, offended, or appalled by this proposal needs a dose of reality.
And chanting 'let's leave the UN' just because they looked at the facts and made a logical suggestion is JUST like abandoning the scientific community because they came up with findings that you don't like. Facts are facts: The dollar blows as a reserve currency right now. - bennny, on 03/20/2009, -12/+52and we should stop giving the un our dollars to start
- inactive, on 03/20/2009, -24/+63Get the UN out of the US, period!
- inactive, on 03/19/2009, -38/+74If this isn't a good reason to leave the UN, what will it take?
- bellboy19, on 03/19/2009, -22/+53I really really question the reasoning behind this argument. I agree ... leave the UN. THey haven't done anything productive lately.
- vman81, on 03/20/2009, -3/+29didn't quite sound like ditching, more like diversifying.
also, stop whining, please, you need to shed the idea that national sovereignty is divine.. to solve the worlds problems we need to re examine everything we take for granted. - RolandMcShane, on 03/19/2009, -7/+28Ouch! I wish I had paid my water bill before all this dollar bashing over the past couple of days! A basket of currencies might be fine for reserve currencies for some countries, but I am sticking with the greenback.
- alienufo, on 03/20/2009, -1/+20you mean bernanke? hes the one in charge of printing money and has lent out something like 2 trillion in the past 6 months.
- stompk291, on 03/19/2009, -5/+22dugg up. but I still have to ask. . .
Lately ? - edebolt, on 03/20/2009, -4/+19it was just single proposal. Russia also made a fantasy proposal for a new one world currency.
- k3rfuffl3, on 03/20/2009, -4/+17Notice how the person who posted this to YouTube has the u/n "SaveOurSovereignty3" and has the Illuminati symbol as his user image?
- inactive, on 03/20/2009, -0/+12Great time to get into debt.
- Snarfy, on 03/21/2009, -2/+12We never really escaped the Great Depression. We offloaded it to the rest of the world.
We had enormous debts running up into World War II. These debts were accumulating from the Great Depression. The war only increased our debt further.
After the war, the Bretton Wood agreements were established resulting in the US Dollar becoming the world currency. With the status of world currency, every other country in the world had to buy dollars in order to back their currencies resulting in all of our debt be obsolved and the US becoming the richest country in the world. But it's not real wealth, it's only because the rest of the world accepts our dollars as worth something.
Since then, we've been steadily accumulating more and more debt. With the financial crisis on wall street, the bubble has burst. Not only will all of the massive amount of dollars the Fed is printing bite us in the butt, what's worse is that all of those reserve dollars are waiting to "come back home to roost" as Peter Schiff would say. If the dollar is lost as the world's reserve currency, the US is finished Zimbabwee style. - SemiSarcastic, on 03/20/2009, -6/+16The best thing about the internet is that you can pretend to be a genius about anything!
- 3nder99, on 03/20/2009, -0/+10He means ever.
- Bloodweaver, on 03/20/2009, -2/+12Metal is at least metal, that is not useless. It has an industrial purpose and you can't manufacture an endless amount of it. Money is just electrons inside a computer chip.
- vinnyvenus, on 03/20/2009, -1/+11I personally believe it will be good for us in the long run if dollar is not the sole reserve currency.
- Y0tsuya, on 03/20/2009, -0/+9They issue many declarations. That's being productive, right?
- inactive, on 03/20/2009, -5/+14In this instance I think the committee could say a lot of things, that doesn't mean it will happen. For all the huffing and puffing about the dollar and it's place in the world, it should be noted that as soon as times got scary it was the one place everyone ran to for security. I don't foresee the dollar being replaced anytime in the near future as the reserve currency of the world.
- YouBeDaMan, on 03/20/2009, -3/+12What's an "NWO whackjob"?
Are you reffering to guys like George H. W. Bush and Henry Kissinger who have stated over and over again that they want to establish a new world order?
If not, google is your friend. Come back when you know more, instead of trying to burn witches and heretics. - Sogui, on 03/20/2009, -3/+12Who cares? This man is clearly informed about our monetary system
/s - Coinspinner, on 03/21/2009, -0/+8The Fed just printed another $1.45 trillion this week, you better bail fast!!
- diggydougie, on 03/20/2009, -4/+12Sounds great. As long as there is something real behind it like precious metals. Another fiat currency will just fail even bigger than the current crisis in the future if not.
- dhughes, on 03/20/2009, -0/+8 Not quite, it's 22% and the EU pays almost double that, Japan is close to what the US share is but it's pointless to argue since the US doesn't pay it anyway.
- opticwind, on 03/20/2009, -0/+8Actually, since it's a supernational (and not a supra-national organization, it's legitimate under the Constitution because the U.N. does not require any loss of sovereignty to be a member. The EU does. That's not necessarily a bad thing, but an important distinction.
- Biscuitz, on 03/20/2009, -2/+9Get out of here you religious fear mongerer
- Randki, on 03/20/2009, -0/+7AND USING BIG TEXT MAKES YOUR POINT EVEN MORE IMPORTANT!!
And when you start throwing the word treason around, you start losing your audience. Facts, not emotion or drama. - superkendall, on 03/20/2009, -4/+11Centralizing currency is a great way to have even bigger levels of theft and mischief.
If the U.S. dollar is so lacking in desirability, by all means we should stop providing the U.N. with them. - inactive, on 03/20/2009, -6/+13The dollar is stronger across the board against almost all global currencies in the past year to 18 months. You are a moron.
- Coinspinner, on 03/21/2009, -0/+7The US is always way behind on payments, it is common knowledge.
- woofers07, on 03/20/2009, -1/+8Uhh, good luck with that. It may be a good idea like switching to the metric system, but it'll never happen.
- diggydougie, on 03/20/2009, -1/+8And we need to stop trying to be the world's nanny as well.
- nixfu, on 03/21/2009, -0/+6That is because Ron Paul speaks TRUTH.
- yoyar, on 03/20/2009, -0/+6That's like saying "a little bit of bleeding is good for you" when vampires are in charge.
In a free market economy where the money is backed, "savings" (not hoarding) represents resources which can be used for investment and borrowed at a market rate.
It all balances out. But in the current day the Fed has so massively screwed things up that economic balance is a pipe dream. No one should be manipulating interest rates and inflating the money supply. The market would take care of that.
Read some Mises so you know what the hell you are saying next time. - X9001, on 03/20/2009, -1/+7Users should be banned for having such inaccurate headlines
- Hetman, on 03/20/2009, -1/+7How do you follow the bible exactly? Are they producing new gospels that I dunno about?
- Snarfy, on 03/21/2009, -0/+6You won't care you are a millionaire when a can of soup costs $25,000.
- Swishkid44, on 03/20/2009, -2/+8A world currency would be a travesty of immense proportion if implemented. We, the human race, need to remain diversified to an extent that individual free thought is the most encouraged asset that man owns. Power corrupts, and absolute power corrupts absolutely.
- voyetra8, on 03/20/2009, -2/+7The US dollar hasn't been backed by gold (or anything physical that matter) for ages.
You need to read up on the concept of fiat money. - Bloodweaver, on 03/20/2009, -1/+6It figures that there is some nut who can provide a handy bible reference to explain the UN.
- dieboldcracy, on 03/21/2009, -0/+5you mean Greenspan.........well........you REALLY mean Rockefeller/Rothschild
- Barackalypse, on 03/20/2009, -5/+10And yet, the Dollar is good enough to fund 1/4 of the UN's budget.
- cliffotn, on 03/20/2009, -0/+5Two pointless points. Firstly, this guy is a douche bag. He makes points about what people like and are happy with and about regarding what should be a reserve currency. ***** you with your feelings, this is business an economics you ivory tower prick.
Secondly, I too am pissed off about our economic situation. Be careful you not allow the powers that be play you like a cheap fiddle. Those who caused the most of this are now acting the most pissed off. You know I'm right, and my statement is very non partisan so chill out. This "us vs. them" ***** by both sides is great for the politicians, so long as we're caught up in Jon Stewart vs. the world they can steal yet another $trillion without us noticing. - diguptruth77, on 03/20/2009, -0/+5By all means, let's keep ignorant about it. Let's just leave it up to the "experts" currently running the show.
If we don't talk about it, we won't exchange ideas and the people here that do know a thing or two, can't challenge our current beliefs about how we think things work? We need to set aside what we believe is the truth, and open our minds to new, emergent understandings. Something is wrong, so why are we trying to remain ignorant about the giant elephant in the room?
I don't know ***** about economics, either. I rely on my fellow human to break it down for me. The recent Rolling Stone article put it best, that instead of calm, organized explanations, we get impatient eye-rolling from the Fed and Treasury dept, etc. The congress people we elected get the same answers that we do...eye-rolling. There must come a time when we're not okay with ignorance anymore.
Our ignorance is their power. (Insert any so-called "authority" for "their") - ramilehti, on 03/21/2009, -0/+5I am amazed at sheer lack of basic comprehension in the comments.
He is talking about getting rid of the US dollar AS A RESERVE CURRENCY. Not the currency as a whole.
It would be good for the world economy as well as US economy.
He also talks about the lack of national oversight and the systemic risks that it lead to.
And bank secrecy laws that enabled the evasion of national authorities.
Those are all valid points.
I hope you would see past your "UN is teh evilz" foolishness. - Jezon, on 03/20/2009, -1/+6The US Dollar is a great currency because of all of this stimulus spending which means there's finally enough money out there for literally everyone to be a millionaire :D
- freshgrease, on 03/20/2009, -0/+5Galactic Credits, anyone?
- peacelvr, on 03/20/2009, -1/+6We have to stay in the UN to keep our veto power.
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