China's top banker proposes new world currency

[babsbunny]

http://rawstory.com/news/2008/Chinese_central_bank_proposes_new_world_0323.html

Stephen C. Webster
Published: Monday March 23, 2009


The head of China's central bank proposed Monday a plan to displace the American dollar as the world's standard and replace it with a global reserve currency operated from the International Monetary Fund.

"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.

[endarkenment]

1. We will go to war with China before we allow that to happen.

Our house of cards is suspended in mid air through the trick of our position as the default global currency.

[ayeshahaqqiqa]

2. I'm surprised it took this long to happen

Only silver lining was China wasn't proposing their currency become the standard.