Is this the end of the dollar

[js207]

Ian, they seem to be talking about the possibility of it becoming A reserve currency in future if changes are made. Right now, it isn't even China's main currency for those purposes, let alone the whole world's: China itself uses it for less than one-sixth of international trade.

Someone I knew from university recently launched a popular new electronic product. It's priced in US dollars. He's in England, the device is manufactured in China - but still they use dollars for it, not pounds or yuan.

Gold is still a safe camodity and there is very little chance of the price going down. All countries have traded in gold since time began, i dont think it will change in out lifetime.

As long as gold exists and has some purpose, it will still be traded - but it's been a long time now since payments were made in gold rather than dollars. Of course the price will go down at some point, like any commodity: the alternative would be an economic perpetual motion machine. Just ask Gordon Brown, who managed to dump Britain's gold at one of the lowest prices possible...

[IAN 2411]

Ian, they seem to be talking about the possibility of it becoming A reserve currency in future if changes are made.

Hello...That is is the point of the thread...Do you honestly think that the BRIC nations could not come together and push the dollar aside, if you do i sugesrt you think again. Russia and China have been trading for decades before during and after their differences...Russia dont like America or much of the west...but they would love to knock America off of its hign perch. Start believing that European and Asian countries are not afraid of the American might now.

Be well IAN 2411

[leo9]

Someone I knew from university recently launched a popular new electronic product. It's priced in US dollars. He's in England, the device is manufactured in China - but still they use dollars for it, not pounds or yuan.

I've been thinking for some years that there is a real possiblity that the "electronic dollar" - the unit used for convenience in international online trading - might simply break loose from the US dollar and become the world's first currency without a country, with a value based solely on the global concensus.

The online dollar is the currency of choice for the same historical reasons that English is the first language of the Web. But if the US dollar goes on weakening, the international online community will have the choice of finding another national currency to trade in, or breaking the link to the national currency. The former would be the obvious traditional solution, but I wonder if the Web has enough originality to consider the latter?