What would the likely impact on the US economy be if the dollar were dumped as the reserve currency?
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This entry was posted on Thursday, April 23rd, 2009 at 6:59 am and is filed under Currency Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
April 23rd, 2009 at 6:59 am
Some other country`s currency would take over. Yours would just become a secondary currency. This could affect the US prosperity.
April 23rd, 2009 at 6:59 am
The dollar would become incredibly weak, and the economy would nose dive. there are rumours around right now that China wants to dump its reserves of USD (around 2 trillion dollars)
the dollar could eventually be replaced as the world's main reserve currency by the Special Drawing Right (SDR), which was created as a unit of account by the IMF in 1969.