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Throughout time, there have been countless government and political conspiracies that have kept us wondering. This forum is dedicated to that very topic. Got a conspiracy theory of your own? Post it, and try to back it up as best you can!

Postby rath » Wed Nov 21, 2012 3:41 am

Nov. 20, 2012,

Aussie, Canada dollars termed reserve currencies

Marking the onset of a multi-currency reserve system and a new era in world money, the IMF formally classified two commodity-rich currencies, Australian and Canadian dollar, as official reserve assets.

In a move that will see a downgrading of the Euro & the U.S Dollar.

From next year, the International Monetary Fund can ask member countries to include the Aussie and Loonie (Australian and Canadian dollars respectively) in statistics supplied by reserve-holding nations on the make-up of their central banks’ foreign exchange reserves.

Presently, the IMF uses five currencies ( dollar, euro, sterling, yen and Swiss franc) as official reserves.

The International Monetary Fund has named the Canadian and Australian dollars as official currency-reserves in the latest IMF report.

The IMF regularly reports its so-called Composition of Foreign Exchange Reserves, or Cofer, to gauge the currency stocks of central banks around the world. The overwhelming proportion of those reserves is held in just five currencies, deemed by many investors as ultra-safe: U.S. dollars, euros, British pounds, Japanese yen and Swiss francs.

But in an appendix tucked away in the final pages of a new IMF report on statistics, the fund acknowledged the rising use of the Canadian and Australian dollars as reserve currencies among some central banks. It said a survey of countries found that of the 10 other currencies held in central bank stocks, only the Australian and Canadian dollars are held by more than two countries.

In its past reports, the IMF has lumped the two dollars—known as the loonie and the Aussie—into an "other currencies" category. But now, the IMF plans to break them out and list them separately, as it already does for the five other major currencies. The exact timing isn't clear, but it would mark the first time the IMF designated a new reserve currency since the 1999 introduction of the euro.

Practically speaking, the break-out is a technicality. The report didn't appreciably move either currency in Monday trading. But longer term, it could underpin a sense of security that has already infused trading in those currencies and assets priced in them.

David Marsh, a co-chairman of the London-based Official Monetary and Financial Institutions Forum, said the move reflects growing diversification of the world's $10.5 trillion of reserves, and "is likely over time to exert wide-ranging impact on world bond and equity markets."

Still, Mr. Marsh says that expanding the official reporting list signals a new phase in the development of reserve money. "The IMF step has both practical and symbolic importance and will almost certainly promote further asset diversification among official and private asset managers," he said.
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Postby rath » Wed Nov 21, 2012 3:55 am

The worst part for the U.S ......

As the U.S dollar falls, from it's round about' 96 cent's against the Australian & Canadian dollars. To the expected 30 cents against the Canadian & Australian dollar in the years to come.

This will mean, one U.S dollar will buy' 30 cents Canadian & Australian.

So ........ as the U.S dollar falls, ... the U.S debt level will rise.

Right now the U.S dollar is buys 96 odd Australian & Canadian cents, & The U.S.A's national debt now stands at around ...
$16 - $17 trillion dollars.

Now if the U.S dollar falls to just 50 cents against the Australian & Canadian dollars, the U.S national debt will double to around,
$32 -$34 trillion dollars.

If the U.S dollar falls to around 30 cents against the Canadian & Australian dollars, the U.S national debt will be around $47 - $50 Trillion dollars.

& that's just from the fall of your currency, & Assuming you don't spend a single cent on anything ever ... for the next 10 years or more.

For every U.S dollar you spend on the military & roads, healthcare ...... Your national debt increases. by 2.

1 U.S Dollar = 2 dollars Australian & Canadian in national Debt.
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