UN wants new global currency to replace dollar
The dollar should be replaced with a global currency, the United Nations has said, proposing the biggest overhaul of the world’s monetary system since the Second World War.
By Edmund Conway, Economics Editor
Published: 6:45PM BST 07 Sep 2009
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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.
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And, why are we in the UN? We’re financing this “barbara streisand” against our own self-interest. We “nuked” Sadam for suggesting oil should be priced in Gold not dollars. Let’s see if we do the same to the UN for a similar suggestion!
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