Possible implications of a U.N. led abandonment of the Dollar
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A new “global currency” proposed by the United Nations itself, is already sending shock waves around the world. In short the proposal suggests abandonment of the dollar. Whether or not this will only result in loss confidence of the recovering form of currency, depends on the approach to this heated issue but one thing that appears to be certain is the desire for financial world security. Consequently “jumping ship” on the dollar, might achieve the opposite reaction as much of the world is still reliant on the United States of America. It may very well be that reliance that has triggered this proposal in the hope of increasing the strength of other countries to create a more balanced world stage, yet one cannot hide the vital role the US economy plays on other countries when it comes to imports and exports and the web of dependence that has developed.
Links:
http://www.cbsnews.com/blogs/2009/09/09/taking_liberties/entry5298305.shtml
http://www.reuters.com/article/newsOne/idUSTRE52H2CY20090318
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