Global Currency to Take Place of the Dollar

Categories: Politics & Economics

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Jason Staples Substack

I’ve been saying for some years that the dollar would collapse (probably in the 20-teens) and be replaced by a global currency doled out by an international bank (i.e. a true central World Bank). Today’s WSJ mentions that this was precisely the suggestion of China as one of the solutions to the present economic woes. This of course will not happen now (we can expect some short-term bounce back from the present crisis), but it will wait for the real economic collapse that will happen in the teens, when the new international currency will more than likely become a reality.

The article containing the brief note is here: http://online.wsj.com/article/SB123862779016180329.html

Update: Russia’s Medvedev also took a swipe at the dollar, suggesting alternative reserve currencies need to be emphasized: http://blogs.wsj.com/economics/2009/04/02/medvedev-renews-call-for-alternatives-to-dollar/

Tags: Economics

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