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Us Dollar Worlds Reserve Currency

bsmithgeo   |     |   1 posts since 2010

Recently there has been increased concern over the possibility that the USA could loose its

status concerning the dollar being the worlds reserve currency due to our enormous debt

and out of control spending. What is your current thinking regarding the possibility of such

an event and would this allow our Government to take control of personal assets such as 401k's and IRA's. Also, when is the last time there was verification of the amount of gold held in Ft Knox and the Fed in NYC?

Shorebreak   |     |   4,061 posts since 2010
“When I was young, my father looked up from his USA Today and told me" "Another Russian is predicting the end to the U.S. dollar (USD) reserve currency status, they've said that for years, it'll never happen in my lifetime." (He was right.) At the time, I had no idea what he was talking about, but now in my 40s, as I see all the websites calling for the USD demise, it reminds me of this, and I have to laugh at the ones that sport adds for water purifiers, seeds and all the end of the world survival gear. Whenever there is turmoil or uncertainty in the world, in times of world stress, be it "Arab spring" or "fiscal cliff," terrorist attacks or "debt bubbles," the flow of liquidity moves into the USD/Treasuries. If the stock market takes a dive, cash is king, and Treasuries soar.”

 Debunking The Myth: The Demise Of The U.S. Dollar [SPDR Gold Trust (ETF), SPDR S&P 500 ETF Trust, CurrencyShares Euro Trust] - Seeking Alpha