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Guru sandyf There is no GCR" 11/29/17

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Guru sandyf There is no GCR" 11/29/17

Post  roxy22222222 on Wed Nov 29, 2017 9:20 pm

There is no Global Currency reset as currencies reset daily thru currency trading. - That is not strictly true. 50 years ago this month the UK government devalued the GBP by 14% and initiated a partial global reset. At that point in time the GBP was still the primary reserve currency and all countries with GBP reserves had to reset their exchange rates.  If the US today devalued the $ by 14% there would be virtually a full global reset.  Any significant change in a reserve currency has a widespread knock on effect
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Re: Guru sandyf There is no GCR" 11/29/17

Post  Kevind53 on Wed Nov 29, 2017 11:39 pm

No, first of all the USD has been the primary reserve currency since the mid 40's even before that the confidence in the GBP had slipped considerably, and most looked to the stability of the US dollar as the defacto reserve currency. If the US significantly devalued it's currency, there would not be a global reset, though there would be a serious impact to the international economy and most nation's reserves. The impacts would be significant, and I have neither the time or inclination to get into that now. Let's just say for now it would not be a good thing for anyone.

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