Economic doom......

UN wants new global currency to replace dollar

By Edmund Conway, Economics Editor
Published: 6:45PM BST 07 Sep 2009

In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises.

It added that the present system, under which the dollar acts as the world’s reserve currency , should be subject to a wholesale reconsideration.

Although a number of countries, including China and Russia, have suggested replacing the dollar as the world’s reserve currency, the UNCTAD report is the first time a major multinational institution has posited such a suggestion.

Source:




Doom Daily

we suck as a planet..


really..

So this is how it all ends...

Well, we gave it a good run....

on the other hand, it's Friday night..

hahahaha

I couldn't resist adding this to the smilies...