Re: A world reserve currency?


"pgreenfinch" <pgreenpasdespamfinch@xxxxxxxxx> wrote in message
news:4796f17d$0$900$ba4acef3@xxxxxxxxxxxxxxxxx
The near bankrupcy of the US dollar, a currency in
which the world is losing trust, after two decades
of mismanagement for political reasons (the independence
of the Fed is more a legend than a reality), shows
the need for a world reserve currency.

The euro cannot meet this role alone. Gold is a
candidate but it has more drawbacks than advantages:
its quantity cannot be adjusted to the evolutions
of needs in a fast changing world.

Silver is a much better candidate for this role. As the Hunt Bros.
discovered when the price of silver goes up marginal silver mines
around the planet open up and pull silver out of the ground.

If we still used our real Silver Dollars 90% about .775 oz fine silver
gasoline would still cost about $0.21 per gallon.


Therefore that world reserve currency has to be "man made"
and be issued for example by the IMF. But would such a
reserve currency issued by the IMF, as an evolution of its
special drawing rights, inspire trust to the national
(and regional, the case of the ecb) central banks to use
it in their reserves ?

Are you a card carrying socialist or a closet socialist? That should
be no insult today as even John Maynard Keynes was a fabian
socialist and Stalin appoligist.

The world should advance to some unity and common governance
to contribute to such trust.

An honest money supply would also go a long way to this end. It
was the minting of dishonest short weight silver coins in the U.S.
Europe, and Japan that ultimately and directly caused the banking
collapse in 1929.

A world reserve currency would be a step towards a federated
world, but it should be completed by other initiatives
going in the same direction.

Do we really want a one world government where the leaders are
not accountable to the local populations?

Our planet is too small to stay divided. Even monetarily.

Silver has a standard value. It is worth what it is worth. It is also
one of the most important commodities in industry, so it's real value
is no mere illusion.

Robert Miller


.

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