Quote from: Schrankwand on May 18, 2013, 07:05:17 PM

Quote from: Hawker on May 18, 2013, 07:04:09 PM

Quote from: farfiman on May 18, 2013, 06:48:47 PM

Quote from: Hawker on May 16, 2013, 05:28:29 PM

Why do so many people find it hard to accept that things are fine?

The one and only reason "things are fine" is because the US dollar is still ( for now) the world reserve currency.
But that fact is changing slowly but surely. How long can the US pull this off? Could be a year, 5 , maybe even 10.
But after that the US is doomed to sink out of their world power status.

The dollar will be a world reserve currency until something better, that is acceptable to central bankers, comes along. Same for sterling and the yen and perhaps the euro. And there really isn't any fiat currency around with better fundamentals than the dollar.

Reminds me how someone wanted to change the valuation of oil from Dollar to Euro and got executed by his own people after an invasion Cheesy

Yup. "Fundamentals" of the dollar: The most powerful military in the world (and the will to use it).