capricorn wrote:Yes, the US Dollar functions as about 60% of the worlds reserve currency. Second is the Euro at 20%. This includes Australia as they hold US Dollars to back their currency. I'm not saying that this will last forever but currentlythis is the way it is. But I digress....
Clearly your understanding of global currency are as poor as your understanding of gun control policy.
The US dollar does not back the Australian dollar ( the Australian economy is not linked to the 1850's style U.S economy.
The Australian Dollar is & always has been backed by the commodity market .... & Australia's massive reserves of Mineral resources.
& this is why Australia is the only country not to have suffered
any affects or down turn, from the U.S economic collapse ( unlike the rest of the world ) ..... Because Australia's economy is not linked to the U.S economy nor the U.S dollar.
USA ... Europe .... Japan ALL bankrupt. But not Australia .... in-fact Australia has just entered it's 24th year of continues growth.
That's 24 years with out a recession.
Now compare that to the usa ... recession after recession.
Japan has just entered it's 26th year of continuous recession. That's 26 years in a row.
& Europe ( recession + 70 percent unemployment. )
This is why the U.S dollar was dumped as the worlds reserve currency & replaced with the Australian & Canadian dollars ...
( because the Australian & Canadian Dollars are used by more country's.) And that number increases more & more each year as more nations & multinational company's buy up Canadian & Australian dollars. & dump their U.S assets.
& as i said right throughout the Global financial crises. Australia had no stock-market crash, & growth more than doubled in Australia
.
no job losses ( in fact Australia needs more workers than ever before, millions more each year. ) & has an unemployment rate of around 5 percent compared to much much higher rates in the rest of the world.
& we also have universal healthcare ect ect.
But I digress.
topic8245.htmltopic7374.htmlSo if your finished trying to divert the topic from the fact you are wrong on all your previous claims once again ... i am still waiting for you to retract your incorrect statements. & apologise to Chisleray & myself for your inflammatory accusations.
inflammatory accusations. ( i like that one myself )
