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Thread: Head of IMF Proposes New Reserve Currency

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    Head of IMF Proposes New Reserve Currency

    Dominique Strauss-Kahn, the head of the International Monetary Fund, suggested Friday the organization might one day be called on to provide countries with a global reserve currency that would serve as an alternative to the U.S. dollar.

    Head of IMF Proposes New Reserve Currency - ABC News

    I don't know alot about finance, but I do know that in my gut, this can't be a good thing.


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    Re: Head of IMF Proposes New Reserve Currency

    When I first saw the post title, I was wondering why the Impossible Missions Force was getting involved with currency policy.

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    Re: Head of IMF Proposes New Reserve Currency

    Quote Originally Posted by samsmart View Post
    When I first saw the post title, I was wondering why the Impossible Missions Force was getting involved with currency policy.

    Never heard of the IMF eh?


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    Re: Head of IMF Proposes New Reserve Currency

    Quote Originally Posted by j-mac View Post
    Never heard of the IMF eh?


    j-mac
    I've heard of the International Monetary Fund. It's just that I've heard of "Mission: Impossible" more.

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    Re: Head of IMF Proposes New Reserve Currency

    Quote Originally Posted by samsmart View Post
    I've heard of the International Monetary Fund. It's just that I've heard of "Mission: Impossible" more.

    I am gathering that you don't see this move as serious, or any trouble for the dollar at all? Is that right?


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    Re: Head of IMF Proposes New Reserve Currency

    What currency would they use? Does this mean oil would be traded with another currency marking its per-barrel price?

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    Re: Head of IMF Proposes New Reserve Currency

    The IMF already has SDR's

    But this move is a way to placate the countries that have currency reserves (Re Asian countries and Russia) who are concerned about the QE being done by many European countries and the US.

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    Re: Head of IMF Proposes New Reserve Currency

    Well, about the time of Bretton Woods it was the intention of Keynes to have the new establishments to have a single world currency as a reserve. I think it'd be a lot better.
    www.thecaffeinemachine.com - looking for main-page political writers, so if anyone is interested send a PM (apologies if that violates any rules)

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    Re: Head of IMF Proposes New Reserve Currency

    Quote Originally Posted by Richard Nixon View Post
    Well, about the time of Bretton Woods it was the intention of Keynes to have the new establishments to have a single world currency as a reserve. I think it'd be a lot better.

    Better in what way? Is giving up our sovereignty in terms of monetary control a good thing? I see it as ominous.


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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