new reserve currency?

edpell

Prof. Stiglitz of Columbia University said:

"The current reserve system is in the process of fraying," the Columbia University economics professor said at a conference in Bankok. "The dollar is not a good store of value. Right now, the dollar is yielding almost no return and yet anybody looking at the dollar has to say there's a high degree of risk."

Any thoughts on what we can use to replace the "fraying" dollar?

Being a Columbia graduate I am fond of the University and its professors. :)

calculusrocks

The obvious answer is gold, or a basket of precious metals. Gold is often purchased for its store value.

jtbell

Quatloos.

Ivan Seeking

A high degree of risk compared to what; the Euro?

hypatia

Did the veins in your head flutter when you typed that?

CRGreathouse

mheslep

Gold can't offer an expanding money supply as the economy expands.

calculusrocks

Gold does offer value, however, when the money supply expands to an absurdity.

Philosoraptor

My vote goes to the peso. Mexico's good for the money.