Thread: World Bank Chief: Euro, Yuan Could Replace Dollar

World Bank Chief: Euro, Yuan Could Replace Dollar

Monday, October 5, 2009 12:26 PM

By: Dan Weil

The dollar will increasingly see its role as the world’s sole reserve currency challenged by the euro and the renminbi, says World Bank President Robert Zoellick.

“The United States would be mistaken to take for granted the dollar’s place as the world’s predominant reserve currency,â€

Right. The Euro and the Yuan are a better choice? Why? Because of the stability of the European and Chinese economies? What backs up the value of those currencies? This is crap from the speculators who trade currencies like the commodity traders trade oil futures and orange juice and wheat, etc. You can bet folks are making big bucks by driving the dollar down then driving it up etc. Who watches insider trading in the currency markets? Anyone we trust? Anyhow, if they dump the dollar, they will suffer in the long run. If the Democrats are dumped in 2010 and Obama is dumped in 2012, by 2014 the dollar will likely rebound as it did after Carter was dumped. I was in Europe through all of the Carter administration years, and all I heard from the locals I knew was how mad they were at the weakness of the US dollar.