Thread: London; Federal Reserve Under Assault

China calls for new reserve currency
By Jamil Anderlini in Beijing

Published: March 23 2009 12:16 | Last updated: March 24 2009 00:06

China’s central bank on Monday proposed replacing the US dollar as the international
reserve currency with a new global system controlled by the International Monetary Fund.

In an essay posted on the People’s Bank of China’s website, Zhou Xiaochuan, the central
bank’s governor, said the goal would be to create a reserve currency “that is disconnected
from individual nations and is able to remain stable in the long run, thus removing the
inherent deficiencies caused by using credit-based national currencies”...

http://www.ft.com/cms/s/0/7851925a-1...0779fd2ac.html