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New reserve currency?

  1. Feb 26, 2010 #1
    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. :)
  2. jcsd
  3. Mar 12, 2010 #2
    The obvious answer is gold, or a basket of precious metals. Gold is often purchased for its store value.
  4. Mar 12, 2010 #3


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    Quatloos. :biggrin:
  5. Mar 12, 2010 #4

    Ivan Seeking

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    A high degree of risk compared to what; the Euro?
  6. Mar 12, 2010 #5
    Did the veins in your head flutter when you typed that?
  7. Mar 12, 2010 #6


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  8. Mar 12, 2010 #7


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    Gold can't offer an expanding money supply as the economy expands.
  9. Mar 13, 2010 #8
    Gold does offer value, however, when the money supply expands to an absurdity.
  10. Mar 14, 2010 #9
    My vote goes to the peso. Mexico's good for the money.
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