The Decline Of America's Financial Power

UN Calls For New Reserve Currency -- Breitbart/AP

The United Nations called on Tuesday for a new global reserve currency to end dollar supremacy which has allowed the United States the "privilege" of building a huge trade deficit. "Important progress in managing imbalances can be made by reducing the reserve currency country?s 'privilege' to run external deficits in order to provide international liquidity," UN undersecretary-general for economic and social affairs, Sha Zukang, said. Read more ....

A newspaper report that Gulf Arab states are in secret talks to replace the dollar is wrong, Saudi Arabia's central bank chief said. Photo from The Daily Mail

More News On The Decline Of America's Financial Power

Gold price hits record high on report to ditch dollar -- AFP Oil Not Priced in Dollars by 2018? -- Business Week Secret Meeting To Plan Dollar's Demise? -- CNBC Dollar will remain oil currency say Saudi Arabia and Russia -- The Daily Mail Saudi Central Bank Chief Backs Dollar, Cites Its ‘Convenience’ -- Bloomberg Gulf Officials Deny Plan to Replace Dollar -- Wall Street Journal France dismisses talk of replacing dollar in oil -- Reuters Gold surges, hits new all-time high of $1,045 -- AP Report: Secret Plot Against Dollar -- New American Previous Post: The U.S. Dollar Will No Longer Be Used For Oil Trading My Comment: The more that people deny that this will happen .... the more likely that it will. Today's gold spike and drop in the U.S. dollar surely indicates the direction that we are going.