- Prison Planet.com - http://www.prisonplanet.com -
Calls grow to supplant dollar as global currency
Posted By admin On July 6, 2009 @ 3:55 am In Money Watch | Comments Disabled
Globe and Mail 
Monday, July 6, 2009
The call to find an alternative to the U.S dollar as the global reserve currency is gaining momentum as France joined calls by China, India and Russia for a review of the world’s currency practices.
French Finance Minister Christine Lagarde challenged the dollar’s supremacy “in a world that has changed because of the crisis and the growing role of emerging countries.”
(ARTICLE CONTINUES BELOW)
The questioning of the U.S. dollar as the key currency for central banks by a leader of a major European economy gives renewed life to the issue at this week’s Group of Eight summit meeting in L’Aquila, Italy. The U.S. dollar has long served as the dominant medium of exchange, and tends to dominate the official money reserves that countries hold through their governments and at their central banks.
In the first quarter of 2009, 65 per cent of the world’s allocated foreign exchange holdings were held in U.S. dollars, according to the International Monetary Fund. That’s the highest in seven quarters.
Full story here. 
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/calls-grow-to-supplant-dollar-as-global-currency.html
URLs in this post:
 Globe and Mail: http://www.theglobeandmail.com/report-on-business/calls-grow-to-supplant-dollar-as-global-currency/article1207242/
 Image: http://prisonplanet.tv/signup.html
 Dollar And Stocks Drop As China Calls For New Global Currency: http://www.prisonplanet.com/dollar-and-stocks-drop-as-china-calls-for-new-global-currency.html
 China Calls For International Oversight Of The US Dollar, Suggests Single Global Currency Replace It: http://www.prisonplanet.com/china-calls-for-international-oversight-of-the-us-dollar-suggests-single-global-currency-replace-it.html
 Shocking New IMF Report: The U.S. Dollar Needs To Be Replaced As The World Reserve Currency And SDRs “Could Constitute An Embryo Of Global Currency”: http://www.prisonplanet.com/shocking-new-imf-report-the-u-s-dollar-needs-to-be-replaced-as-the-world-reserve-currency-and-sdrs-could-constitute-an-embryo-of-global-currency.html
 UN Calls For Bank Of The World, New Global Currency: http://www.prisonplanet.com/un-calls-for-bank-of-the-world-new-global-currency.html
 Calls rise for new global currency: http://www.prisonplanet.com/calls-rise-for-new-global-currency.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.