FROM CNN's Jack Cafferty:
Here's another very troubling sign about where we are these days:
[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2010/images/06/30/art.one.dollar.jpg caption=""]
The United Nations says it's time to scrap the dollar as the main global reserve currency. The U.S. dollar has for years been the currency of choice in troubled times - a safe haven when uncertainty arises.
But a new report by the U.N. suggests the dollar has become unreliable and needs to be replaced with a more stable system.
Many countries - especially in Asia - have been building up massive dollar reserves. But because the dollar has begun to fluctuate much more recently, these countries' currencies have become undervalued - which makes it harder for them to import goods.
The UN is backing a proposal which would replace the dollar with a basket of currencies. The report says a new reserve system should not be based on a single currency in order to create more stability in the global financial system.
Russia and China have already said they support creating a new reserve currency system... as does the International Monetary Fund.
But not everyone is so sure this is such a good idea. Some European officials suggest it should be the market, not politicians, which determines which currencies countries buy for reserves.
There's been increased debate about using the dollar for international trade ever since the U.S. economy slumped into a recession.
Unless and until something definitive is done about our $13 trillion dollar national debt and skyrocketing federal deficits, the future of the almighty greenback is very much in doubt.
Here’s my question to you: What does it mean if the U.N. says the dollar should be scrapped as the main global reserve currency?
Interested to know which ones made it on air?
Jamie in Arizona writes:
No, you cannot reform immigration without sealing the border. I live in Phoenix, Arizona. Sealing the border needs to be the FIRST thing done, then we can iron out guest worker programs, etc. I do not believe it would be fair to give amnesty to those who cut in front of people who respect our borders.
Annie in Allentown, Pennsylvania writes:
My first question is: How does true border security require comprehensive immigration reform? How do they plan to implement their amnesty? Do you really think illegal immigrants will come forward and pay taxes, go to the back of the line, and so on? I don't think so. It will just be more words on paper to appease the American people. I hope we're smarter this time in not believing a word they say.
Gary in Akron, Ohio writes:
It would be a real change if the politicians in D.C. would for once serve the citizens who elected them. It's clear to anyone with a brain that we need to concentrate on border security first, deportation of illegal immigrants back to their own countries, passing stiff penalties for those employers who hire Illegal workers and then, and only then talk about some sort of immigration reform. All the polls are crystal clear that this is what American citizens want. JUST DO IT!
Ray in Georgia writes:
The president needs to tell the illegals here that they will not get amnesty, loud and clear. That is already the message of the U.S. citizens. If amnesty is granted to the illegals this time, there will be 20 million more who will want amnesty 20 years from now… Those who want to be U.S. citizens already have a path to citizenship. It is already in place. If that law needs to be adjusted then bring it before the people so it can be examined for modification if needed. But NO AMENSTY, period.
"But these days what most Americans want doesn't seem to matter." So true. It is a sad state of affairs and shows the complete lack of personal integrity of our elected officials. They are our proxies, not our masters. So sad, so sad.