[karachi-Friends] US dollar being replaced by new global currency

Dear  All,

         I had informed you before death of dollar and advised to sell it as soon as possible. I hope you acted upon my advice. But if you have not, please have a look at this post:

Notice the only 2 in the front row who are not waving...

Speaking yesterday at an IMF conference in Washington, Dominique Strauss-Kahn, Managing Director of the IMF, warned of growing "global imbalances" in currencies and excess reserves.  As a measure to combat these imbalances, he said that the SDR (Special Drawing Right) should begin replacing the dollar as the global reserve currency.  He went further to suggest the benefits of issueing SDR-denominated bonds to replace Treasuries, and in a related report, the IMF even touts the benefits of private trading of SDR-denominated bonds and notes.  You can just imagine the possibilities for creating arbitrage and mayhem under that scenario, especially as the component currencies of the SDR would only be re-balanced on a weekly or daily basis, at best.

         

 

                        Muhammad Javed Iqbal

Visit My blogs  for a no nonsense, serious discussion of
 burning issues facing the humanity : 

 http://effortforchange.wordpress.com/
 http://harbingerblog.wordpress.com

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Visit my Blog for a no nonsense, serious discussion of problems facing the humanity:
https://sites.google.com/site/yaqeenweb/home/

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