It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Discussions about creating an alternative monetary system have not been public. I was invited to China to discuss my views with officials there and to lecture at three universities, and was subsequently asked to write up my proposals for Premier Wen Jiabao, pending another visit just prior to this year’s meetings between China, Russia, India, and Brazil, with Iran attending with visitor status. All of this signals that other countries are seeking an alternative. Now that the euro has collapsed, there’s currently little alternative to the dollar as a reserve currency. This implies that there is no national currency that is a stable store of value for international savings. Meanwhile, US money managers are leading the flight from the dollar to Brazil, China, and other “emerging market” countries. As matters stand, these countries are selling their resources and companies for free—as the dollars being spent to buy them end up in their central banks, to be recycled into US treasury bonds, or to be used to purchase euro debt that is plunging in international value.