UN report calls for US dollar support to avoid global recession

Surprisingly tough to find links to this story. Here's one. Here's another. And here's the Report.

"In order for current world economic growth rates to continue, it is crucial to keep the United States dollar from falling rapidly while also avoiding a recession, says a United Nations report released Wednesday.

We call for a coordinated strategy that would think about how to adjust these global imbalances while avoiding recessionary tendencies in the global economy”

In other words: everyone wants out of the US Dollar, the Central Banks of the world aren't confident they can "coordinate" it amongst themselves, so now the UN is stepping into the fray.

Oh, and that last line there...you could substitute the words "Don't panic everybody, we can still all get out of this with our shirts intact". Well, all but the "non-privileged" Americans anyway....

Comments

[David Wozney]

A “Federal Reserve Note” is not a U.S.A. dollar. In 1973, Public Law 93-110 defined the U.S.A. dollar as consisting of 1/42.2222 fine troy ounces of gold.

[freeacre]

Amazing how well you fore casted these types of events on your Timeline for the Collapse which you wrote back in 2004 (I think), quoted once again in this weeks LATOC.

[John Doh]

It certainly is strange that this missive from the U.N. NEVER aired in US media.Considering up till now every other thing they have said gets near full coverage.
Isn't it?
:<

[auntiegrav]

Just wanted to post a link on this topic.

http://newworldeconomics.com/
Another one that is interesting is

http://www.normeconomics.com

By the way, The Oil Drum http://www.theoildrum.com is seeing indications of 80 -83.00 oil coming up in September. When inflation and other factors are taken into account, I think that's the price which correlates to the oil 'shock' of the '70's. My prediction for collapse last year was for 85.00, since that would be the point where it really sinks in that things are worse than before. That is the "Oh My GAWD" moment for the DJIA and the Bubble Heads to finally pull everything out and put it under a mattress.
It can't be precisely predicted, since the SDIC (sensitive dependence on initial conditions) point is unknown. Should we hope that the glaciers slide off first to give people something else to do?

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