Pressure Mounts on the Dollar

There are various attacks on the U.S. dollar at the moment, including:

• The IMF is considering printing hundreds of billions of dollars worth of its own currency

• A U.N. panel will recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies

• The Fed is buying $300 billion (in the first round) of long-term treasuries

• China is saying it will diversify out of the dollar

• The rumor is that both Russia and China are pushing for the dollar to be replaced as the world's reserve currency