China proposes replacing the US dollar

China proposes replacing the US dollar

overhaul the global monetary system and one day replace the dollar as the world’s main reserve currency with the International Monetary Fund's (IMF) Special Drawing Right

Zhou Xiaochuan, governor of the People’s Bank of China, argued that what he called a super-sovereign reserve currency would not only eliminate the risks inherent in currencies such as the dollar, which are backed only by the credit of the issuing country and not by gold or silver, but would also make it possible to manage global liquidity.

(visit the link for the full news article)


MODS, please use correct link
business.timesonline.co.uk...

I don't know what occured!
and delete this message after MODS if possible after correction is done!
Thanks

[edit on 23-3-2009 by ModernAcademia]

A one-world gold standard?
lol, that's never going to happen

Ron Paul says NA is under attack by Europe and China
they are both trying have their own thang!



WOW, he predicted it well... lol

Tell me something.
If the bubble bursts all of a sudden, and the real value of the american dollar is revealed....... HELLO ZIMBABWE?????????

It will be worth NOTHING!
am I wrong?

inflating the bubble even now is only making the inevitable end result so much more worse.

But everyone who got millions of bailout money might be safe though... Hmmmm


(visit the link for the full news article)

He wasn't the only one to predict this.

I have. In the up to the minute market data thread I clearly outlined how this was to take place. And they are following the script. Those of you that follow that thread in Global Meltdown know precisely what I'm talking about.