Sec. Kerry: Dollar to “Cease to Be the Reserve Currency of the World” If Iran Deal Fails

[BarryDonegan]

http://truthinmedia.com/sec-kerry-dollar-to-cease-to-be-the-reserve-currency-of-the-world-if-iran-deal-fails/

Secretary of State John Kerry said on Tuesday that if Congress fails to authorize President Obama's proposed nuclear deal with Iran, the U.S. dollar will lose its status as the world's reserve currency.

[LatinsforPaul]

Yea, that would be the best thing that could happen... bye bye FED :D:D:D

[LibertyEagle]

It's not going to be for long, anyway.

[Kotin]

why are the two tied, Mr.Kerry? lollllz

[jllundqu]

Interesting that he would even mention this.

Hope this happens.

[Ronin Truth]

No longer being the world's reserve currency solves and further prevents a multitude of problems.

[morfeeis]

http://truthinmedia.com/sec-kerry-dollar-to-cease-to-be-the-reserve-currency-of-the-world-if-iran-deal-fails/

Secretary of State John Kerry said on Tuesday that if Congress fails to authorize President Obama's proposed nuclear deal with Iran, the U.S. dollar will lose its status as the world's reserve currency.


You know how many people have been killed to keep the petrodollar rolling, there is no way a deal with a country we could blow up would cause it to be outed....

[Spikender]

The quicker the better.

It can either be like peeling off a bandage real fast or slowing scraping a scab off.

[loveshiscountry]

And we should listen to Kerry about economics because.....

[P3ter_Griffin]

For those that didn't click it, his theory is that if the sanctions are not lifted we have to sanction businesses/governments/individuals of other countries from trading with Iran. My understanding is that is not the case, and that sanctions would then be between businesses/governments/individuals of the US and the same counter parties from Iran only. Some people did a lot of research into these sanctions, it would be great if someone with that knowledge could clarify.

Interesting times ahead I think, when leftists start throwing out the 'cease to be the reserve currency' line.

[Dianne]

Kerry must believe dollar going to lose... votes must be going against him. How sweet, he and retardo Obama can blame the Iran deal for their intentional destruction of the U.S. dollar. The 18 trillion dollar deficit (which is really 40 trillion), will all come due if we don't give Iran nuclear bombs. How clever and cute these two ******s think they are.

[r3volution 3.0]

He's quite right.

The more the US sanctions other countries (i.e. cuts itself off from world trade), the less incentive there is for foreigners to use/hold dollars.

Failure of the Iran deal may not cause the end of the dollar's hegemony, but it'll move the needle in that direction.

...I'm astounded that he actually said this in public.


No longer being the world's reserve currency solves and further prevents a multitude of problems.

In the long term, yes, by limiting the government's ability to finance itself by inflation.

But in the short term, the transition could be very painful, even catastrophic (no one really knows how low the dollar would fall absent this artificial foreign demand).

If the wrong kind of government's in power during the crisis (i.e. one that opposes the necessary structural changes), things could get much worse, not better.

See: Argentina

[Dianne]

So who did they say the terrorists are? Cough.

[Dianne]

He's quite right.

The more the US sanctions other countries (i.e. cuts itself off from world trade), the less incentive there is for foreigners to use/hold dollars.

Failure of the Iran deal may not cause the end of the dollar's hegemony, but it'll move the needle in that direction.

...I'm astounded that he actually said this in public.



In the long term, yes, by limiting the government's ability to finance itself by inflation.

But in the short term, the transition could be very painful, even catastrophic (no one really knows how low the dollar would fall absent this artificial foreign demand).

If the wrong kind of government's in power during the crisis (i.e. one that opposes the necessary structural changes), things could get much worse, not better.

See: Argentina

Yeah, and we have the wrong kind of government in power. In my lifetime, there has never been a government as corrupt in Washington, D.C. as what we have now.

[pcosmar]

And we should listen to Kerry about economics because.....

Listening to a halfwit with foot in mouth disease can be enlightening..
especially when they say things they weren't supposed to say.

[Ronin Truth]

I figured there just might be a NWO catch in there somewhere with the liberal CFR Bonesman Kerry leading the parade. :p

[anaconda]

Interesting that he would even mention this.

Hope this happens.

Inadvertent truth bomb by Kerry. This was never about a "nuclear Iran." :rolleyes:

[Dianne]

So he's basically saying, the U.S. was blackmailed into the Iran trade deal. Give them nuclear bombs or your $$ no longer reserve currency of the world. It all goes back to finances. The U.S. went down, not losing a war; but economics.

[bunklocoempire]

why are the two tied, Mr.Kerry? lollllz

I can hear the shouting:

"Debt to America!" "Debt to America!"

[Acala]

They are trying to scare Congress in the same way they scared Congress into passing TARP over the loud objections of the majority of people. Pass this or the US economy tanks. But it does give a little glimpse behind the curtain into what is really going on in our foreign policy.

[loveshiscountry]

He's quite right.

The more the US sanctions other countries (i.e. cuts itself off from world trade), the less incentive there is for foreigners to use/hold dollars.

Failure of the Iran deal may not cause the end of the dollar's hegemony, but it'll move the needle in that direction.

...I'm astounded that he actually said this in public.



In the long term, yes, by limiting the government's ability to finance itself by inflation.

But in the short term, the transition could be very painful, even catastrophic (no one really knows how low the dollar would fall absent this artificial foreign demand).

If the wrong kind of government's in power during the crisis (i.e. one that opposes the necessary structural changes), things could get much worse, not better.

See: ArgentinaWhy would the US sanction other countries when they know it would cause catastrophe? Why cut off your nose to spite your face? I don't see TPTB slitting their own wallets.