ignorant

In Search of the Next Reserve Currency

There will be a new international currency within the next ten years. While many countries in the world suffer a devastating economic decline the U.S. prints money with no immediate penalty to its credit rating or financing cost. The economic community outside the U.S will not tolerate this preferential treatment forever when the result is a disproportinate distribution of the pain outside the U.S. The Asian economic region will be the first to break the dollar monopoly. Common sense and history dictates that any country that runs large balance of payments/ fiscal deficits and has a casino, overleveraged financial system should not function as a reserve currency country.