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Report: China Suggests New Reserve Currency
Calculated Risk —
Update: here is the essay in English (ht Comrade Coinz) From the Financial Times: China calls for new reserve currency China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund. In an essay posted on the People’s Bank of China’s website, Zhou Xiaochuan, the central bank’s governor, said the goal would be to create a reserve currency “that is disconnected from individual nations and is able to remain stable in the long run, thus ...
China Wants New Reserve Currency to Replace Dollar
Rolfe Winkler —
... Tonight China escalated its criticism of U.S. fiscal and monetary policy. The governor of China’s Central Bank, Zhou xiaochuan, called for a new reserve currency to replace the dollar. FT: ...
China Calls for New Reserve Currency
naked capitalism —
... doubts about the dollar is not trivial. And while the Fed may want a cheaper dollar (weakening the currency is a standard remedy for a country suffering a financial crisis), a disorderly fall in the dollar would be another matter entirely, and could constrain the Fed. In addition, the Fed has been called the second least independent central bank in the world, and if a fall in the dollar led to markedly higher oil prices, there could be political pushback. From the Financial Times: China’s central bank on Monday proposed replacing the US dollar as ...
Update: The Prophetic Dr. Hoppe on the Rise of the Phoenix
Mises Economics Blog —
Re The Prophetic Dr. Hoppe on the Rise of the Phoenix: today's Drudge Report reports: BEIJING TO PITCH NEW GLOBAL CURRENCY; DUMP DOLLAR.
Recommended Reading
zenpundit.com —
... SWJ Blog - Trends, Threats, and Expectations
Big Steve sets off a robust discussion after his participation in a Pentagon conference on strategic futurism and a SWJ Blog post.
Chicago Boyz (David Foster) - Indoctrination at U-Delaware
The heavy, taxpayer-subsidized, propaganda hand of the multiculturalist-critical race theorist Left at the University of Delaware.
FT.com - China calls for new reserve currency
I see this more of serious signal to the American elite from ...
China urges new reserve currency
FT Alphaville —
China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the IMF. In a post on the People’s Bank of China’s website, Zhou Xiaochuan, the central bank’s governor, said the goal would be to create a reserve currency “that is disconnected from individual nations and is able to remain stable in the long run”. See also FT Alphaville on the ...
Stocks Make a Massive Move, but Volume Fails to Keep Up
Market Speculator —
... Simply printing money and taking out more debt to pay for these toxic assets will not solve the problem. The problem was excessive credit and expansion of the money supply. For far too long the Federal Reserve Bank has kept rates artificially low and the money supply on an upswing. In a matter of one week we have seen plans to increase the monetary base by ANOTHER $2 TRILLION dollars. This makes the Weimar Republic look like childs play. China is about to announce plans to create a one world currency , dumping the dollar as the world’s reserve currency. If this were to ...
China proposes a new world currency
BloggingStocks —
... China is the largest holder of U.S. dollars -- approximately $2 trillion. With the Federal Reserve's program to buy U.S. Treasury bonds and expand the Term Asset-Backed Securities Loan Facility (TALF) program, China is concerned that printing all of this extra money will have a negative impact on China's holdings. ...
China calls for new reserve currency
Short-Term Trading —
... with a new global system controlled by the International Monetary Fund. The goal would be to create a reserve currency “that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies”.Analysts said the proposal was an indication of Beijing’s fears that actions being taken to save the domestic US economy would have a negative impact on China. FT “China is concerned about the potential for a slide in the dollar as the ...
post dollar world
Blood & Treasure —
... China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund. ...
