Posts Tagged ‘ Special Drawing Rights ’

UN calls for Special Drawing Rights to replace dollar internationally

July 4, 2010
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UN calls for Special Drawing Rights to replace dollar internationally

A United Nations report has called for an end to the dollar as the international reserve currency. The UN Department of Economic and Social Affairs concluded that “The dollar has proved not to be a stable store of value, which is requisite for a stable reserve currency.” They argued that countries that have been...

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Markets quiver as Geithner reaffirms his love of the global currency concept

September 23, 2009
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Markets quiver as Geithner reaffirms his love of the global currency concept

From the Telegraph: 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. The dollar plunged instantly against the euro, yen, and sterling as...

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