Truthout has a story about a recommendation to be made next week by the U.N. Commission of Experts on International Finance Reform (I'll call them CEIFR). CEIFR seems to believe that the dollar should be ditched by the world as its reserve currency in favor of a "shared basket of currencies."
I am in no way a financial expert. Not even close! But this move concerns me. It further degrades the value of the dollar during this current financial crisis. It also allows Russia to have a stronger position when introducing their plan for the creation of a new reserve currency at the G20 meeting in April. One positive is that it could prevent the move towards using the Chinese Yuan as the global currency reserve. Does this mean that if the proposal becomes policy, we move one step closer towards a world currency?
Now I'm seriously considering investing in gold. Gold is the standard by which all currencies are based. Having that significantly improves our chances of staying financially strong and viable in a rapidly changing global economy.
I'm open to people's thoughts about this. Is some group purposely trying to devalue the dollar to prevent or delay economic recovery for the United States?