Monday, January 18, 2010

Money, Money, Money

I'm surprised not see any responses to my previous post. I was sure a self identified "patriot" would have left a robust and bountiful list of imaginative insults. of course, this blog is young...

I just wanted to leave a quick note- China and the United Nations "formalized" its request for a new global reserve currency to replace the dollar. Its just a matter of time folks. A single financial system is in the works. What are the advantages?

1) No exchange rates

2) Increased financial transparency among the financial powers of the world

3) Greater financial stability- at least ideally

4) A single financial system should resolve a great deal of the wealth imbalance

There are disadvantages- decreased national autonomy, etc but these issues are not that much of an issue to me.

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