China's yuan 'set to usurp US dollar' as world's reserve currency

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5325805/Chinas-yuan-set-to-usurp-US-dollar-as-worlds-reserve-currency.html

Professor Roubini, of New York University's Stern business school, believes that while such a major change is some way off, the Chinese government is laying the ground for the yuan's ascendance.

Known as "Dr Doom" for his negative stance, Prof Roubini argues that China is better placed than the US to provide a reserve currency for the 21st century because it has a large current account surplus, focused government and few of the economic worries the US faces.
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http://www.telegraph.co.uk/finance/economics/5050407/US-backing-for-world-currency-stuns-markets.html

US backing for world currency stuns markets
US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is "quite open" to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund.


I have news for Geithner

A New World Order Currency is NOT going to happen

if this is the Agenda

they will fail miserably

China we are going to have China as the world currency
baaawaaahaaa A Communist Country baaawaahaaa

good old dr doom should take a few courses in political theory and current events.

:eyes:

Hersch has also been a harbinger of truth.

So calling Roubini the Hersch of finance is, I presume, a compliment.

If not, I think you may be mistaking DU for another forum.

which is what should be used as a global reserve currency, that's only 20% lower than it's current use as a reserve currency. What would your problem be with that? You don't want to even give up that much power to the rest of the world?