Comments on: China wants to get rid of the dollar http://www.creditwritedowns.com/2009/03/china-wants-to-get-rid-of-the-dollar.html a finance news and opinion site Sat, 20 Mar 2010 23:59:54 +0000 hourly 1 By: Edward Harrisonhttp://www.creditwritedowns.com/2009/03/china-wants-to-get-rid-of-the-dollar.html#comment-4509 Edward Harrison Tue, 24 Mar 2009 11:48:39 +0000 http://www.creditwritedowns.com/?p=7385#comment-4509 smoody,This is a big reason I am not a dollar bull despite the rally in the USD that ended just a while ago. Yes, Europe has huge problems. But, the Euro is not the world's reserve currency and the eurozone does not have the massive current account deficit the US has. In my view, the dollar hasmore to lose from fiat money weakness than the euro.We should expect others to join China in this declaration. The G-20 meeting will be very interesting. Take a look at this post about Paul Davidson's ideas:http://www.creditwritedowns.com/2009/01/paul-davidson-reforming-the-worlds-international-money.htmlI think this would be a good framework. smoody,

This is a big reason I am not a dollar bull despite the rally in the USD that ended just a while ago. Yes, Europe has huge problems. But, the Euro is not the world’s reserve currency and the eurozone does not have the massive current account deficit the US has. In my view, the dollar hasmore to lose from fiat money weakness than the euro.

We should expect others to join China in this declaration. The G-20 meeting will be very interesting. Take a look at this post about Paul Davidson’s ideas:

http://www.creditwritedowns.com/2009/01/paul-davidson-reforming-the-worlds-international-money.html

I think this would be a good framework.

]]> By: smoodyhttp://www.creditwritedowns.com/2009/03/china-wants-to-get-rid-of-the-dollar.html#comment-4506 smoody Tue, 24 Mar 2009 07:36:06 +0000 http://www.creditwritedowns.com/?p=7385#comment-4506 This is clearly the direction world finance has to take, but I doubt there's sufficient political will to actively pursue the 'Chinese solution.' So it's interesting that China is the first government to air the idea--not the G20, the ECB, the US Treasury or the Fed--though it must be obvious to all. The creditor nation takes the lead. This is clearly the direction world finance has to take, but I doubt there’s sufficient political will to actively pursue the ‘Chinese solution.’ So it’s interesting that China is the first government to air the idea–not the G20, the ECB, the US Treasury or the Fed–though it must be obvious to all. The creditor nation takes the lead.

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