Wednesday, June 30, 2010

DEVALUED U.S. CURRENCY IS HURTING INT'L TRADE SO MUCH THAT NEW LIQUIDATION MEASURES ARE BEING SOUGHT...

Per CNN.com, "The dollar is an unreliable international currency and should be replaced by a more stable system, the United Nations Department of Economic and Social Affairs said in a report released Tuesday." They continue, "Many countries, in Asia in particular, have been building up massive dollar reserves. As a result, those countries' currencies have become undervalued, decreasing their ability to import goods from abroad. The World Economic and Social Survey 2010 is supporting a proposal long advocated by the International Monetary Fund to create a standardized international system for liquidity transfer."

This is not a good look y'all. Our economy is crippling faster than an elephant on stilts and it's causing a ripple effect across the globe. Eeeek! Buying gold is startin' to sound real good right about now...

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