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.