http://www.youtube.com/watch?v=tXoACHN4QA0
(Bloomberg) -- The dollars role in international trade should be reduced
by establishing a new currency to protect emerging markets from the
confidence game of financial speculation, the United Nations said.
UN
countries should agree on the creation of a global reserve bank to
issue the currency and to monitor the national exchange rates of its
members, the Geneva-based UN Conference on Trade and Development said
http://www.bloomberg.com/apps/news?pid=20601087&sid=aSp9VoPeHquI
The idea of moving away from the dollar is also finding support from
major international agencies. The United Nations Conference on Trade and
Development has stated that "the current system of currencies and
capital rules that binds the world economy is not working properly and
was largely responsible for the financial and economic crises." The
statement continued, saying "the dollar should be replaced with a global
currency." The International Monetary Fund agrees, recently arguing
that the dollar should cede its role as global reserve currency to an
international currency, which is in effect a basket of national
currencies.
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