U.N. Report: Scrap Dollar as Sole Reserve Currency

U.N. Report: Scrap Dollar as Sole Reserve Currency
Submitted by SteveMT on Tue, 06/29/2010 - 18:09
in Current Events
[Tick-tock, tick-tock. The dollar is reaching the end of the trail.]

Scrap dollar as sole reserve currency: U.N. report
Louis Charbonneau
Tue Jun 29, 2010 4:56pm EDT

(Reuters) - A new United Nations report released on Tuesday calls for abandoning the U.S. dollar as the main global reserve currency, saying it has been unable to safeguard value.

But several European officials attending a high-level meeting of the U.N. Economic and Social Council countered by saying that the market, not politicians, would determine what currencies countries would keep on hand for reserves.

"The dollar has proved not to be a stable store of value, which is a requisite for a stable reserve currency," the U.N. World Economic and Social Survey 2010 said.

The report says that developing countries have been hit by the U.S. dollar's loss of value in recent years.

"Motivated in part by needs for self-insurance against volatility in commodity markets and capital flows, many developing countries accumulated vast amounts of such (U.S. dollar) reserves during the 2000s," it said.

The report supports replacing the dollar with the International Monetary Fund's special drawing rights (SDRs), an international reserve asset that is used as a unit of payment on IMF loans and is made up of a basket of currencies.

More at:

http://www.reuters.com/article/idUSTRE65S40620100629

A MUST LISTEN! Bob Chapman BP oil Spill is a False Flag event in order to bring the Carbon Taxation

Bob Chapman on A Marines disquisition 24 June 2010
Bob Chapman BP oil Spill is a False Flag event in order to bring the Carbon Taxation , it is a giant scam ...Bob Chapman : Marc Faber is totally controlled he says what he is told to say , you do not set on Barron's round table for 20 to 25 years if you are someone who is outside the box says Bob Chapman.. Industrial Silver Shortage is going to keep driving the price of silver up in the next several years. Heavy Manipulation by Hong Kong Bank & JP Morgan.

Monday, June 28, 2010Bob Chapman BP oil Spill is a False Flag event in order to bring the Carbon Taxation
Bob Chapman on A Marines disquisition 24 June 2010
Bob Chapman BP oil Spill is a False Flag event in order to bring the Carbon Taxation , it is a giant scam ...Bob Chapman : Marc Faber is totally controlled he says what he is told to say , you do not set on Barron's round table for 20 to 25 years if you are someone who is outside the box says Bob Chapman ...

Mr. Robert Chapman also known as The International Forecaster is a 74 years old. He was born in Boston, MA and attended Northeastern University majoring in business management. He spent three years in the U. S. Army Counterintelligence, mostly in Europe. He speaks German and French and is conversant in Spanish. He lived in Europe for six years, off and on, three years in Africa, a year in Canada and a year in the Bahamas.

Mr. Chapman became a stockbroker in 1960 and retired in 1988. For 18 of those years he owned his own brokerage firm. He was probably the largest gold and silver stockbroker in the world during that period. When he retired he had over 6,000 clients.
Bob Chapman : you got to remove these people from the government
Starting in 1967 Mr. Chapman began writing articles on business, finance, economics and politics having been printed and reprinted over the years in over 200 publications. He owned and wrote the Gary Allen Report, which had 30,000 subscribers. He currently is owner and editor of The International Forecaster, a compendium of information on business, finance, economics and social and political issues worldwide, which reaches 10,000 investors and brokers monthly directly, and parts of his publication are picked up by 60 different websites weekly exposing his ideas to over 10 million investors a week.