China is getting nervous about holding US dollars.
FYI--China wants to dump dollars, create new currency
Posted March 24th, 2009 by celticavenger
This just in: China thinks an IMF-based global currency is a better bet than our continually-inflated fun tickets.
China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund.
In an essay posted on the People’s Bank of China’s website, Zhou Xiaochuan, the central bank’s governor, said the goal would be to create a reserve currency “that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies”.
Taken from:
http://www.dailypaul.com/node/87278
FYI--China wants to dump dollars, create new currency
Posted March 24th, 2009 by celticavenger
This just in: China thinks an IMF-based global currency is a better bet than our continually-inflated fun tickets.
China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund.
In an essay posted on the People’s Bank of China’s website, Zhou Xiaochuan, the central bank’s governor, said the goal would be to create a reserve currency “that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies”.
Taken from:
http://www.dailypaul.com/node/87278
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