Quote:
Originally Posted by Figmo Bohica
There is a possibility that the dollar could be removed as the "world's reserve currency." If this happens, we will become a 3d world country over night.
This happened to the UK in the 1950s when the dollar took over for the Pound Sterling. Google the history of "world reserve currency" and find out what it did to the UK.
I only hope that this does not happen to us.
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Yeah, what a terrible thing happened to the UK. London has supplanted New York as the financial center of the world. I remember a brief time when the dollar and pound sterling were almost at par. Now it's $1.62 to the pound (though it's been as bad as 2:1 when my daughter was studying in England).
I was in London last year. In less than two weeks, I'm going to Scotland. Third world country? Not hardly! You, sir, have no idea what you're talking about.
The UK in the 1950s? Are you forgetting they were BOMBED OUT from World War II and had little industrial base left? (The rest of Europe had none but ours in the US was untouched)