How would you like the loonie to be the Reserve Currency?

**cottonpicken** · Nov 20, 2012, 09:03

We are so small it doesn't make much sense.

If we start getting used in international settlements
and countries of the world start putting us in their
forex reserves,houston we have a problem.

**cottonpicken** · Nov 20, 2012, 09:25

Man o man,i know the consequences of an overnight
currency cut by heart but contemplating an overnight
increase makes me sick at my stomach.

**TOM4CWB** · Nov 20, 2012, 11:15

Boarder,

I think someone is gone 'wacky' at the IMF... or this must be April 1 and we are in a time warp.

There is NO way with US currency negotiated globally for many decades... that folks would switch to the 'Loonie'.

**TOM4CWB** · Nov 20, 2012, 11:19

Border,

OK you got me!

Grin!

"The International Monetary Fund said it’s considering classifying the Australian and the Canadian dollars as reserve currencies.

The two “are to be considered for inclusion” separately in the IMF’s “Currency Composition of Official Foreign-Exchange Reserves” data, the Washington-based lender said in a report published on Nov. 14. They’ve previously been included in an “other currencies” category in the COFER reports."

P.S.

Not 'The' Reserve Currency, but 'A' Reserve Currency.

**boarderbloke** · Nov 20, 2012, 12:53

I believe $CDN and $AUS would be considered along with the other (so called ???)reserve currencies, as heard on CJME980, USA, EU, Swiss Franc, British pound, and I think they named 1 or 2 more, that have this so called status already. This was news to me as I've always thought, all USD, all the time!

**cottonpicken** · Nov 20, 2012, 13:29

One scary thought is like we could be moving towards
a nato block single currency.

**mbratrud** · Nov 20, 2012, 15:36

Google this guys Dinesh D’Souza. This is old new and the election is over but he has some wild theories about Obama if they are true it will be hard to tell who should have reserve status on their currency.... Time will tell I guess.

**boarderbloke** · Nov 20, 2012, 18:39

mbratrud, did you see "2016"?

**sumdumguy** · Nov 21, 2012, 05:05

What is tje downside of the loonie being reserve
currency?

How would you like the loonie to be the Reserve Currency?