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Steven L.[_2_]
March 25th 09, 12:46 AM
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”.

Analysts said the proposal was an indication of Beijing’s fears that
actions being taken to save the domestic US economy would have a
negative impact on China.

“This is a clear sign that China, as the largest holder of US dollar
financial assets, is concerned about the potential inflationary risk of
the US Federal Reserve printing money,” said Qu Hongbin, chief China
economist for HSBC.

http://www.ft.com/cms/s/0/7851925a-17a2-11de-8c9d-0000779fd2ac.html?nclick_check=1


--
Steven L.
Email:
Remove the NOSPAM before replying to me.

Garcia
March 25th 09, 01:52 AM
oh boy, I can just see the xian fundies coming out of the woodwork on
this one:
"Universal currency!! Ah, the END of times!"
HG

On Mar 24, 7:46*pm, "Steven L." > wrote:
> 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.

John Galt[_2_]
March 25th 09, 02:14 AM
Garcia wrote:
> oh boy, I can just see the xian fundies coming out of the woodwork on
> this one:
> "Universal currency!! Ah, the END of times!"

Nah.

Now, if they tell you you need a barcode tattoo or a subcutaneous chip
in order to access your account.......hit the dirt.

Seriously.

JG


> HG
>
> On Mar 24, 7:46 pm, "Steven L." > wrote:
>> 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.
>
>

Ken T.
March 26th 09, 02:16 AM
On Tue, 24 Mar 2009 18:52:15 -0700, Garcia wrote:

> oh boy, I can just see the xian fundies coming out of the woodwork on
> this one:
> "Universal currency!! Ah, the END of times!" HG

Didn't we used to have a universal currency? Something shiny and metal?
Maybe yellow?

--
Ken T.
http://www.electricsenator.net

Excess on occasion is exhilarating. It prevents moderation from
acquiring the deadening effect of a habit.
-- W. Somerset Maugham

March 26th 09, 03:02 AM
one governor of the central bnkof china repeated what some kook
suggested in 1940...will never happen..


"THE BLACK HAND" is the name of the international
terrorist group that is causing all the problems.

Doobie Keebler[_2_]
March 26th 09, 11:41 AM
On Mar 25, 10:02*pm, wrote:
> one governor of the central bnkof china repeated what some kook
> suggested in 1940...will never happen..
>
> * * "THE BLACK HAND" is the name of the international
> terrorist group that is causing all the problems.

Comix, how is it that a freedom loving patriot such as yourself can
justify censoring other peoples posts?

Really, I'd like to hear you out.

You obviously approve of censorship, since you engage in the practice
yourself.

Please explain:

- why you think that's acceptable

- why you're entitled to the role of censor

Seriously, no kidding around. I would like to know what you're
thinking.

..-=d00b
..

Bill Reid[_2_]
March 29th 09, 05:34 PM
"Doobie Keebler" > wrote in message
...

> Comix, how is it that a freedom loving patriot such as yourself can
> justify censoring other peoples posts?

He's just taking up the slack left by "Freddi Fizzx"'s departure from
the newsgroup...you remember him, was a tremendous market bull,
thought the economy was in great shape and would continue that
way indefinitely until some magical indicator appeared that he learned
about in the only book he read on stock investing...

He also ran another stupid stock-picking contest, but as a non-psychopath
he was so humiliated by his insanely outspoken bullish stock market
predictions
he left when he was proven ridiculously wrong, and I guess the contest
went with him, like all of the previous contests here run by
non-psychopaths...

---
William Ernest Reid
Post count: unsure, but it seems my Internet connection problems are
solved,
so I should be back to full counting strength shortly