Mr. President, while you were in Copenhagen.......

While our president was in Copenhagen last week, tending to the high priority matter of securing the Olympics for Chicago, another issue was playing out in other parts of the world. The other event did not even register as a blip on the administrations radar screen.

OPEC and other nations are in discussions on use of the dollar for oil trade, I see a key player missing from the talks regarding the US’ economic fate.

In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.

Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.

The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.

http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html

Our president & administration are not taking part in these talks that will have a huge impact on our future.

Certainly this is something Obama should be involved in. This is some of the heavy lifting we expect our president to involve himself in.

It may not be as exciting as jet-setting off to Copenhagen in a failed Olympic bid, but it will have more relevance & impact on the voters.

Obama is missing in action on this important issue.

Where is the leadership, Mr. President?

The United Nations called on Tuesday for a new global reserve currency to end dollar supremacy which has allowed the United States the “privilege” of building a huge trade deficit.

“Important progress in managing imbalances can be made by reducing the reserve currency country?s ‘privilege’ to run external deficits in order to provide international liquidity,“ UN undersecretary-general for economic and social affairs, Sha Zukang, said.

Speaking at the annual meetings of the International Monetary Fund and World Bank in Istanbul, he said: “It is timely to emphasise that such a system also creates a more equitable method of sharing the seigniorage derived from providing global liquidity.“

He said: “Greater use of a truly global reserve currency, such as the IMF?s special drawing rights (SDRs), enables the seigniorage gained to be deployed for development purposes,“ he said.

The SDRs are the asset used in IMF transactions and are based on a basket of four currencies—the dollar, euro, yen and pound—which is calculated daily.

China had called in March for a new dominant world reserve currency instead of the dollar, in a system within the framework of the Washington-based IMF.

http://www.breitbart.com/article.php?id=CNG.e272eaa74dccc30f21c6ff7638b0f37b.461&show_article=1

I work with organizational development, identifying opportunities for performance improvement and showing my employer how to strategically align OD with the organizational mission & strategy. I am also involved with designing training programs to support these efforts.

One of the things I find is that my organization loses focus on what is important if not actively kept on track. We sometimes get confused in prioritizing.

This is what I see with this administration.

Who sets this agenda and prioritizes the initiatives?

It appears they are more interested in only the "low hanging fruit", getting the photo-ops and hoping the more arduous topics disappear.

Flying off to Copenhagen while Rome burns is a character trait of Obama that I do not find very endearing.

In fact it is dangerous.