U.N. panel says world should ditch dollar

[ivanbaj]

Quote from power:

MOSCOW, March 19 (Reuters):

China and other emerging nations back Russia's call for a discussion on how to replace the dollar as the world's primary reserve currency, a senior Russian government source said on Thursday. Russia has proposed the creation of a new reserve currency, to be issued by international financial institutions, among other measures in the text of its proposals to the April G20 summit published last Monday.

Calls for a rethink of the dollar's status as world's sole benchmark currency come amid concerns about its long-term value as the U.S. Federal Reserve moved to pump more than a trillion dollars of new cash into the ailing economy late Wednesday.

Russia met representatives of China, India and Brazil ahead of the G20 finance ministers meeting last week, as the big emerging powers seek to up their influence on decisionmaking globally. Their first ever joint communique did not mention a new currency but the source said the issue was discussed.

"They (China) did not formally put forward their position for the G20 summit but unofficially they had distributed their paper regarding the same ideas (the need for the new currency)," the source told Reuters, speaking on condition of anonymity.

The source said the Chinese paper envisaged the International Monetary Fund's Special Drawing Rights (SDRs) being first assigned a role of a clearing currency on some transactions and then gradually becoming the main global reserve currency. "They said that the role of reserve currency should be given to SDR," the source said.

A U.N. panel of experts is also looking at using expanded SDRs, originally created by the International Monetary Fund in 1969, but now used mainly as an accounting unit within similar organisations as a new reserve currency instead of the dollar.

http://www.reuters.com/article/idINLJ93633020090319

I need to tell you that the Russians and Chinese have really bad track record for planing prosperity.

 

[aeliodon]

What should we call the New World Currency?

The GLOBO?

 

[krazykarl]

Quote from Ivanovich:

Come on, you're being unfair! The UN is a collective brain trust of all the governments on the planet! All the good that is done by all of our governments, collected in one place with their unified wisdom and selfless desire to bring harmony, peace and stability to the world.

Yeah, that's the ticket.

I lol'd in real life....

 

[Martinghoul]

Quote from ivanbaj:

I need to tell you that the Russians and Chinese have really bad track record for planing prosperity.

Hahaha, that is a VERY good point !

 

[power]

Quote from power:

Russia met representatives of China, India and Brazil ahead of the G20 finance ministers meeting last week, as the big emerging powers seek to up their influence on decision making globally. Their first ever joint communique did not mention a new currency but the source said the issue was discussed.

Russia, China, India are forming alliance/union to destroy USA dollar.

The situation is similar to World War where countries form alliance for dominant position or new world order.

 

[krazykarl]

Quote from power:

Russia, China, India are forming alliance/union to destroy USA dollar.

The situation is similar to World War where countries form alliance for dominant position or new world order.

power

Registered: Mar 2009
Posts: 63

 

[midniteeuropa]

the US may be in a crap load of debt, BUT THEY GOT TO EXPLOIT THE WORDS NATURAL RESOURCES FIRST.



and at the end of the day, that's ALL THAT MATTERS.

 

[eagle]

We notice that. The guy learn fast and seem to have confident posting on ET.

Who will bet with me that he didn't know our stock_trader yet? I think he knows almost everybody.

Quote from krazykarl:

power

Registered: Mar 2009
Posts: 63

 

[Cesko]

Quote from ess1096:

I have about as much respect for what the UN thinks as I have for the steaming, stinky shit I just took. The UN is an anti-American useless leach and should be abolished at best or thrown out of the USA at least. But that's just me.

http://www.reuters.com/article/envi...e=RSS&feedName=environmentNews&rpc=22&sp=true


OSLO (Reuters) - Investments of $750 billion could create a "Green New Deal" to revive the world economy and protect the environment, perhaps aided by a tax on oil, the head of the U.N. environment agency said on Thursday.

Achim Steiner said spending.......

INVESTMENTS.



Reminds me "food for oil investments".
What a bunch of corrupted crooks.

 

[power]

Quote from power:

Russia, China, India are forming alliance/union to destroy USA dollar.

In the early 1990's a plot was hatched by the “Vulcans”, a subset of the Enterprise, to crush the Russian Empire in what was to be called Project Hammer. The idea was to create a slush fund of $240 billion in fraudulent, possibly gold backed, 10 year bonds to economically crush the Russian Ruble, loot it's Treasury and transfer ownership of Russia's vast natural resources to US backed “partners.” These bonds were created on September 12, 1991 and matured 10 years later… to the day.

http://www.marketoracle.co.uk/Article8813.html