United Nations: replace the dollar as the global reserve currency, new global reserve bank
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Remember the Michelle Bachmann hubbub about the proposal from the Chinese government that the U.S. dollar should be replaced with a global currency of some kind? Remember how she - and more importantly her advisors - played into Democrats' hands by confusing "global reserve currency" with the currency used for exchanges in the U.S.? Well, the issue is back and hopefully those like Bachmann won't make the same mistake.
From this 9/7/09 report:
The dollar’s role in international trade should be reduced by establishing a new currency to protect emerging markets from the “confidence game” of financial speculation, the United Nations said.
UN countries should agree on the creation of a global reserve bank to issue the currency and to monitor the national exchange rates of its members, the Geneva-based UN Conference on Trade and Development said today in a report.