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Truly significant news. It's getting tougher for the USD every day.
At this pace they are going to run out of nails. I claim the dollar can continue going on as it is for at least 20+ years before we see big changes.
I doubt it. I would be surprised if its primary reserve status will last longer than 10 years from now. Things will accelerate quickly when the seed of distrust has sprouted. There are many countries that want to get rid of the USD hegemony. When they sense that the power of the empire is dwindling they'll use that opportunity to exit the dollar sphere.
Another nail in the Dollar's coffin.
At this pace they are going to run out of nails. I claim the dollar can continue going on as it is for at least 20+ years before we see big changes.
I doubt it. I would be surprised if its primary reserve status will last longer than 10 years from now. Things will accelerate quickly when the seed of distrust has sprouted. There are many countries that want to get rid of the USD hegemony. When they sense that the power of the empire is dwindling they'll use that opportunity to exit the dollar sphere.
Sounds about right, the IMF actually have a 10 year plan for the SDR (Special Drawing Rights) to replace the dollar as the worlds reserve currency. Although the paper was released a couple of years ago so maybe more like 7 or 8 years now.
I couldn't find the link to the actual paper but this sums it up nicely http://money.cnn.com/2011/02/10/markets/dollar/index.html
