The future of the dollar as reserve currency

Some of the IMF improvements included the expansion of SDRs to eastern european countries. This happened in June 2009 under Title 14 of the supplemental defense appropriation for Afghanistan. the IMF will never be the same. Title 14 in effect rewrote parts of Breton Woods.

http://en.wikisource.org/wiki/Supplemental_Appropriations_Act,_2009/Title_XIV
http://www.ilo.org/dyn/idea/ideasheet.display?p_idea_id=8

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[FeelFreeToArgue]

So, if the countries who have lots of dollars favor having it not being the reserve currency, does that mean they think the dollar will be more stable & less likely to become totally debased if it's not the reserve currency? Did he talk at all about what he thought the likely effects of this for the US economy would be?

[madashelldude]

it would be great for the US economy because today the US can simply print money in order to generate revenue, it doesn't have to sell actual products on the world market and that's devastating for the real economy. I personally am not very optimistic that it will happen soon. I think the elite might be able to survive for decades as far as I can tell because of the US military's absolute power to coerce world wide dollar denominated commerce: even tho u have alternatives u need petro $s etc

[madashelldude]

key resources that EVERY economy needs are priced in dollars because of the strategically present 750 US military bases and that will not change much even if we get rid of oil. For example 1/2 of all lithium reserves are in Bolivia and Chile. If they decide today that they will not sell for dollars tomorrow the 101st airborn will be in their cities.