China suggests switch from dollar
 

Will this ever happen ...

China's central bank has called for a new global reserve currency run by the International Monetary Fund to replace the US dollar.

Central bank governor Zhou Xiaochuan did not explicitly mention the dollar, but said the crisis showed the dangers of relying on one currency.

With the world's largest currency reserves of $2tn, China is the biggest holder of dollar assets.

Its leaders have often complained about the dollar's volatility.

China has long been uneasy about relying on the dollar for trade and to store its reserves and recently expressed concerns that Washington's efforts to rescue the US economy could erode the value of the currency.

His speech was, unusually, published in both Chinese and English, signalling it was intended for an international audience.

the whole story here

http://news.bbc.co.uk/1/hi/business/7960620.stm

Of course it will happen eventually. And statements like this might just make it happen a bit faster.

It can't happen because of reserve issues.
No need for anti America statements here, this has nothing to do with it..:2 cents:

GFY taught me everything I know about macroeconomics

Therefore I have no idea.

retard......

why don't you go fuck your dog?

I hear the Al Jourgensen / Ministry music playing.....NWO....New World Order coming soon!!

can happen, but not in near future

:2 cents:

This topic is getting very little coverage in the American media. It's ALL OVER Asian news and as of today, it looks like it very well may be the start to it happening. If it does, it's curtains for the USA.

:2 cents:

Can't wait to see how the dollar does as this starts to unfold, ugh. Not looking good for the U.S.

(plays "you're a grand old flag" in the background)
high-five US!

I live near a lake, so I propose bringing back clamshells as currency like they had on Flintstones and B.C.

Funny. Got some double talk in that.

Let me see if I can copy it.

"Zhou Xiaochuan did not explicitly mention the dollar, but said the crisis showed the dangers of relying on one currency."



"China's central bank has called for a new global reserve currency run by the International Monetary Fund to replace the US dollar."



Thats doing the same thing.

And not only China... Russia is also about to rise this problem on g20. As far as I know, there are many other countries which want to get rid of useles green paper.

will they use cheap poisonous substances to create the money?

get rid of useless green paper to replace with a global fiat monetary system? whats the fucking change here? worthless green paper goes bye bye and new worthless yellow paper is printed?

Quite right. No demand for the US$ equals devaluation, which in turn creates hyper-inflation. If the US$ devalued, then it would be dropped as the petro-dollar as well (in favor of the Euro, most likely) -- which would cause further devaluation and more inflation.

Having said that, the Chinese would not be happy to see the value of their billions (trillions..?) of US$ turn into monopoly money -- so they would not take any action that would chain react into a devaluation of the US$, I think.

As long there are american oil consumers, it won't happen. But Obama wants to get rid of oil ...

The change is HUGE. The "global fiat monetary system papers" won't be printed in one single coutry :2 cents:

Sounds clear, dollar sucks regardless.

Damn, a lot of clueless fucks here.
This has as much chance of happening as Mother Theresa coming back from the dead and getting married to Elvis...

now we know the reason for this 'repression'

with how the euro is doing, i doubt this is going to get much traction

The Amero!

lets all go back to Cowrie shells

China and Byelorussia already signed on a money swapping deal for their currencies in equivalent of 2.2 billion usd, to avoid using dollar in their mutual trading. Course it's not a big deal at all, but you can consider it as a first signal :2 cents: