myWealth.com

Don't Expect the Dollar to Repeat Its 2008 Performance

I agree. I wasn't referring to it being a "reserve currency" of the world either. Just that they were forming their own currency much like the euro zone has done and yet it's not the world's reserve currency either ...but yet does have its own currency for the region and that's what these guys say they are forming by late 2009 and another report mentions the start of 2010. Either way, I think they'll miss either target but still might make it happen as soon as they can.


On Jan 04 11:26 PM jepittman wrote:

> Those suggesting a new currency from the middle east as a serious
> competitor to the US Dollar as a reserve currency are IMO not being
> realistic. The quantity of funds necessary for a reserve currency
> would dwarf the small economies of the middle east. The US Dollar
> will not be seriously threatened as the world's primary reserve currency
> for many years, despite the ridicule heaped on it by the gold community.
>
>
> I respect gold as a hedge commodity and own it. Gold investors please
> keep in mind I am commenting on a new middle east currency as a viable
> global reserve currency, not being critical of gold as an investment.