MeDeFe wrote:Serious Question: Why should the global currency reserve be in US$ when the US$ is headed for a free fall? Economically the USA are losing their hegemonic status, why should their money be the lead currency when there are far more stable alternatives?
Suppose for a moment that all of the worlds currencies are not really backed by gold, silver or anything that is stable. Just for a moment, suppose that the worlds currencies are just paper. Then imagine for a moment that the Federal Reserve was really a private institution that was not audited buy anyone. Anyone! Then just imagine that the Federal Reserve was actually the institution that controlled the the economy and the value of the dollar. Now imagine that captain.crazy really isn't crazy at all, and that all of these things are actually true. Your imagination just became reality.
To answer your question... How many bold faced lies has the Fed told to Congress since this "emergency" began in October? What was the Tarp money supposed to be used for again? To bail out financial institutions and buy toxic assets.
Where is that money today? Mostly being shipped around the world to pay out other nations, and lets not forget, to pay out corporate "Bonuses" which really aren't bonuses, but loophole salary payments.
If you want to know why the single global currency idea should not be permitted, then consider this. The consolidation of power of Governments to the banking organizations has been disastrous because power corrupts the mind of those who wield it.
Eisenhower warned us against it, Kennedy warned us against it, Lincoln warned us against it, Thomas Jefferson warned against it. You owe it to yourself to at least investigate the possibilities. Observe the predicted outcomes of what happens next month at the G20 and our banking system even after the fed and treasury (~*cough*~ tax ~*cough*~ cheat ~*cough*~) said that they opposed global currency.