Kremlin To Pitch New Global Currency

**SNIP/**The Kremlin published its priorities Monday for an upcoming meeting of the G20, calling for the creation of a supranational reserve currency to be issued by international institutions as part of a reform of the global financial system.

The International Monetary Fund should investigate the possible creation of a new reserve currency, widening the list of reserve currencies or using its already existing Special Drawing Rights, or SDRs, as a "superreserve currency accepted by the whole of the international community," the Kremlin said in a statement issued on its web site.

The SDR is an international reserve asset, created by the IMF in 1969 to supplement the existing official reserves of member countries.

The Kremlin has persistently criticized the dollar's status as the dominant global reserve currency and has lowered its own dollar holdings in the last few years. Both President Dmitry Medvedev and Prime Minister Vladimir Putin have repeatedly called for the ruble to be used as a regional reserve currency, although the idea has received little support outside of Russia.

Analysts said the new Kremlin proposal would elicit little excitement among the G20 members.**/SNIP**
Source: www.themoscowtimes.com...

Wow, now Russia is pushing this. I wonder if they have simply been appointed to the task in order to cause less of a fuss than say if the US was to suggest this. Hmm...



Mod Edit: Use Of All Caps

[edit on 3/18/2009 by semperfortis]

reply to post by warrenb
Yup, russia pimp-slapped the usa when we used georgia and our cia to try to infiltrate southern russia and attempt to take over the pipeline that moves oil into europe. Bush backed down from both Putin and Medvedev and made the usa look kinda weak militarily. Russia is now in total control of all of europe's oil and the pipeline, so they're going to work on the american dollar because it's only paper and backed by nothing of value. America lost the gambit when they failed to lock up the Iraqi oil and with the newly discovered gold bonanza in egypt, nobody wants the americans help for anything right now. Obama is gonna stay in afghanistan and iraq simply because he needs a presence there to quickly deploy troops when he gets his next set of orders from his handlers. America's economic problems are nothing but mere wag the dog scenarios to keep our eyes off the ball of the real agenda which is the further selling out of our american sovereignty and the passing of laws to keep us confined in the fish bowl they have us in right now. Obama wants our guns, control over our food supplies, and wants our children to volunteer to serve in his nwo army of hr 1388.