US Dollar may be replaced as international Currency – Reality zone


 
 
  

The World Economic and Social Survey 2010 is supporting a proposal long advocated by the International Monetary Fund to create a standardized international system for liquidity transfer.

Under this proposed system, countries would no longer have to buy up foreign currencies, as China has long done with the U.S. dollar. Rather, they would accumulate the right to claim foreign currencies, or special drawing rights, or SDRs, rather than the currencies themselves.

The special drawing rights would be backed by a basket of currencies, which would make them less susceptible to volatility in any one currency. And because the value of a special drawing right is defined by the IMF, changes in the value of any one currency could be adjusted for.

These initiatives, supported by U.N. Secretary-general Ban Ki-moon, are meant to help sustain the international trade and financial systems that will allow less-developed countries to participate and integrate into the global economy.

In addition to the proposed reforms regarding international currency, the survey also offered guidance on increasing social well-being.

The survey said that "the number of the poor in the world living on less than $1.25 a day decreased from 1.8 billion in 1990 to 1.4 billion in 2005, but nearly all of this reduction was concentrated in China."

The number of poor increased in sub-Saharan Africa and South Asia over the same period. Income inequalities within countries have increased since the early 1980s with few exceptions, the report said.

"There’s too little aid being provided, it’s too fragmented, and it’s too volatile in terms of the resources that are flowing to countries," said Rob Vos, director of the development policy and analysis division of the U.N.

The survey projects that by 2050 the population will be at 9 billion, with 85 percent living in developing countries, and the global economy will have to sustain a system that will allow for "decent living."…………..   

   Mr Swan Just Flew over to the G 20 Meeting and upon his return there hasnt  been much said about this  but im sure it will be discussed openly in the main stream media shortly !!  

    Here comes the CASHLESS  SOCIETY  and your RFID   Chip,   OH  by the way  HAVE YOU HAD ALL YOUR SHOTS????    I advise you to read the medical insert

before taking any shot /vaccine.

  Under proposed system, countries would not have to buy up foreign currencies, as China has done with U.S. dollar.

Under proposed system, countries would not have to buy up foreign currencies, as China has done with U.S. dollar.

STORY HIGHLIGHTS

  • U.S. "dollar has proved not to be a stable store of value," report says
  • Dollar under increasing scrutiny since U.S. entered recession
  • U.N. report supports proposal to create standardized international system
  • Under proposal, countries would no long have to buy up foreign currencies
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