Saudi currency value

So Long, US Dollar
Saudi Arabian Riyal flagpedia.net

 
May 7, 2012 - 5:22pm — europac admin

 


The commentary below is for the benefit of our readers from opinion makers and writers not associated with Euro Pacific. We do not guarantee the accuracy and completeness of third-party authored content. Opinions expressed are those of the writer, and may or may not reflect those held by Euro Pacific, or its CEO, Peter Schiff.

 


 By:
Marin Katusa


May 7, 2012

 There's a major shift under way, one the US mainstream media has left largely untouched even though it will send the United States into an economic maelstrom and dramatically reduce the country's importance in the world: the demise of the US dollar as the world's reserve currency.


 For decades the US dollar has been absolutely dominant in international trade, especially in the oil markets. This role has created immense demand for US dollars, and that international demand constitutes a huge part of the dollar's valuation. Not only did the global-currency role add massive value to the dollar, it also created an almost endless pool of demand for US Treasuries as countries around the world sought to maintain stores of petrodollars. The availability of all this credit, denominated in a dollar supported by nothing less than the entirety of global trade, enabled the American federal government to borrow without limit and spend with abandon.

Source: IntelliBriefs

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2007-09-25 10:54:15 by Semi

From The Times
September 25, 2007
Canada should put its loonie pride on hold
Gerard Baker: American view
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.
In America, where I would wager that not one person in a hundred could guess to within 25 per cent the exchange value of the dollar against any currency in the world, pundits and policymakers are less worried about the blow to their national pride than they are by the potentially destabilising effects of overrapid declines in the dollar’s value.
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Quotations
from the book
'Blowback
The Costs and Consequences of American Empire'
by Chalmers Johnson
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p5
It is past time ... for Americans to consider why we have created an empire - a word from which we shy away - and what the consequences of our imperial stance may be for the rest of the world and for ourselves.
p5
For any empire, including an unacknowledged one, there is a kind of balance sheet that builds up over time. Military crimes, accidents, and atrocities make up only one category on the debit side of the balance sheet that the United States has been accumulating, especially since the Cold War ended. To take an example of quite a different kind of debit, consider South Korea, a longtime ally. On Christmas...

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Dollar drops as Korea backs away
NEW YORK (Reuters) — The dollar tumbled Tuesday as markets grew concerned about the likely impact of South Korea's plan to diversify its reserves out of U.S. assets, pushing the currency below key technical support levels.
South Korea's central bank, which holds a large chunk of U.S. Treasuries, said Monday it planned to spread its reserves, which are the world's fourth largest, among a greater variety of currencies.
"The dollar is under pressure. This started early in the Far East, with news of South Korea's plan to change reserve ratios," said Andrew Busch, global FX strategist, capital markets, with Harris Nesbitt in Chicago.
"It comes on the heels of Russia saying the same thing. This has fueled speculation that...

Saudi quashes currency revaluation rumours

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Is that like SCOTUS?
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Asked about reports that some countries wanted a delay, he said: "The target date for the monetary union is not the subject of debate. "The debate concentrates on the technical aspects rather than the political aspects."
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