US backing for world currency stuns marketsUS Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is "quite open" to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund.
By Ambrose Evans-Pritchard
Last Updated: 8:14AM GMT 27 Mar 2009The dollar plunged instantly against the euro, yen, and sterling as the comments flashed across trading screens. David Bloom, currency chief at HSBC, said the apparent policy shift amounts to an earthquake in geo-finance.
"The mere fact that the US Treasury Secretary is even entertaining thoughts that the dollar may cease being the anchor of the global monetary system has caused consternation," he said.
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When I was in Mexico those five weeks I talked with many many Americans and tried to warn them. It was the perfect opportunity because the inauguration was on then and many of them were having “inauguration parties” etc. (barf). Anyway, I made myself pretty clear to the point that my sister said I was “embarassing her”. She thinks I’m too blunt but the stakes were just too high as we can see.
Time for America to try to undo this NO MATTER WHAT IT TAKES. Otherwise I predict that ALL WILL BE LOST for your country. CO
Who the hell does he think he is or 0bama to say we, the people, would be in favor for one global money..and govt what the hell next. Some one need a talking to in the stongest possible terms..let’s make these tea parties count for a start.