China Central Bank Proposes New World Currency!!

China

rawstory.com

"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," reported the Times Online.

(visit the link for the full news article)



[edit on 24-3-2009 by Leo Strauss]

This sounds vaguely familiar eh?

According to a little reported article in the Moscow Times Russia will propose the new currency at the next G20 meeting in April.

People are getting nervous it seem about our fiat currency!

"'The re-establishment of a new and widely accepted reserve currency with a stable valuation benchmark may take a long time,' Mr. Zhou said" in a report by the Wall St. Journal.

Hyperinflation would be the result.

rawstory.com
(visit the link for the full news article)

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