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IPFS News Link • Economy - Economics USA

UN wants new global currency to replace dollar

• www.telegraph.co.uk

Although a number of countries, including China and Russia, have suggested replacing the dollar as the world's reserve currency, the UNCTAD report is the first time a major multinational institution has posited such a suggestion.

In essence, the report calls for a new Bretton Woods-style system of managed international exchange rates, meaning central banks would be forced to intervene and either support or push down their currencies depending on how the rest of the world economy is behaving.

The proposals would also imply that surplus nations such as China and Germany should stimulate their economies further in order to cut their own imbalances, rather than, as in the present system, deficit nations such as the UK and US having to take the main burden of readjustment.

 

1 Comments in Response to

Comment by Anonymous
Entered on:

Centralization makes it easier for the global elite to siphon our money makes it harder to discover with less of those pesky oversight rules. Just think your money can be used for the UN thugs to continue raping (literally) and using it as extortion money to ccntrol the peasants.



CrytoHippie