Saturday, August 24th, 2019

Here We Go … China Calls For Global Currency

Published on October 22, 2015 by   ·   1 Comment

China call for a global 'one world' currency

Yournewswire

China have officially called for a global currency that will replace the dominant dollar, in a move towards introducing a one world currency. 

ABC News reports:

The surprise proposal by Beijing’s central bank governor reflects unease about its vast holdings of U.S. government bonds and adds to Chinese pressure to overhaul a global financial system dominated by the dollar and Western governments. Both the United States and the European Union brushed off the idea.

The world economic crisis shows the “inherent vulnerabilities and systemic risks in the existing international monetary system,” Gov. Zhou Xiaochuan said in an essay released Monday by the bank. He recommended creating a currency made up of a basket of global currencies and controlled by the International Monetary Fund and said it would help “to achieve the objective of safeguarding global economic and financial stability.”

Zhou did not mention the dollar by name. But in an unusual step, the essay was published in both Chinese and English, making clear it was meant for a foreign audience.

Read More HERE

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Readers Comments (1)

  1. Joey Edwards Joey Edwards says:

    It’s real out here




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