What do you guys think about the feasibility of the SDR? I don’t like it, it looks like just another fiat money scheme that is left over from the collapsed Bretton Woods system. My thoughts are that when the dollar collapses, there is going to be hell to pay. I think the SDR will be worthless along with all other paper currencies that are pegged to it, I think it will spread fear and doubt about all other forms of fiat money.
Yet another fiat currency, only by a global bank. It looks like blueprints are finalized.
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/2/26_Jim_Rickards.html
The Euro v. 2.0 (or is it beta?).
The Euro v. 2.0 (or is it beta?).
More like a competing product. SDR was created by IMF in 1969. Euro is the third version of EUA/ECU product line.
BTW, Latvian Lat (and I guess some other Eastern European currencies) was pegged to SDR before emergence of Euro.
I think that there will be a whole lot less fear and doubt about a Global Fiat Currency than you think. There are still foreign central banks and the US central bank buying treasury bonds at extremely short terms with low yields. You would think they, the foreign central bankers, would purchase other US assets that pay more and have higher upsides like dividend paying equities or just buy gold, but no these folks really buy into the fantasy that the Fed knows what it is doing and can save the day.
I think that people will move to one of the other fiat currencies before then like the Real or Rupe.