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It's no secret that many of the world's largest industrialized nations are somewhat eager to ease their reliance on the U.S. dollar. For months China and Russia have pushed ever subtly, for a new "global reserve currency," to give governments around the world enhanced economic stability in the event of greater fluctuations in the dollar's value.
Originally posted by antar
This brings to mind the 40 US Billionaires pledging to give at least half of their wealth to charities...
it would make sense to give it all away
if it can't be traded for the new currency.
Encouraging reserve holders to adjust the currency composition of reserves only gradually and discourage any “active” currency management that could potentially cause large swings between reserve currencies.