Special Alert: U.S. Currency Exchange Controls
3/31/2009
Could President Obama and Treasury Secretary Geithner suddenly impose currency exchange controls on the United States and the U.S. dollar? This report will explore this notion and its possible consequences.
World leaders have been begging for a global currency for several weeks now. With global trade falling apart and national economies in continued meltdown, these leaders view the resurgence of global trade as the only salvation for economic recovery. Within that demand is the realization that the only enablement is a new global currency that everyone can agree on.
Today, China is calling for the SDR (Special Drawing Right, or some variation) to replace the dollar as the globe’s primary reserve currency. Russia is also calling for the SDR and some type of gold peg to add further legitimacy. Other leaders around the world are calling for a global currency without suggesting exactly what it should be.
The SDR is exclusively issued and controlled by the International Monetary Fund.
Harold
