The dollar has been the currency of choice since post WWII.
Bloomberg.com: UN Says New Currency Is Needed to Fix Broken ‘Confidence Game’
UN countries should agree on the creation of a global reserve bank to issue the currency and to monitor the national exchange rates of its members, the Geneva-based UN Conference on Trade and Development said today in a report.
China, India, Brazil and Russia this year called for a replacement to the dollar as the main reserve currency after the financial crisis sparked by the collapse of the U.S. mortgage market led to the worst global recession since World War II. China, the world’s largest holder of dollar reserves, said a supranational currency such as the International Monetary Fund’s special drawing rights, or SDRs, may add stability.
2 comments:
Another step in our economic collapse. Once the dollar is dethroned inflation will return with a vengeance. A super stagflation will finish off the last elements of the middle class in America.
I am very suspicious of this. What governing body has the authority to do this? Its bullshit, you have several billion people in the world and a few over inflated elite assume this change. Come on, this is a scam. There is no world authority that can institute this change.
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