China proposes a new world currency

I don't know, but it seems to make a hell of a lot of sense. Probably make a lot of investors pissy though

THE CHICOMS DON'T TRUST OBAMA AND THEY ARE RIGHT. HE WILL DESTROY THE DOLLAR BILL AND THE ECONOMY IN THE LONG RUN--2 YRS.

One world currency is one step closer to one world government. And seeming that it's from from China and the IMF, I could only assume their plan is to make the IMF the new central bank and the WTO the new government whose sole purpose is to ensure individual national democracies do not interfere with production and the generation of profits.

So, what do I think? No, it's definitely not a good idea. Whoever owns a nations debt controls the nation.

The large holdings by foreign governments is why the Fed and Treasury do not mind the dollar dropping. It hurts China. The weaker dollar also helps our imbalance of trade.

Look for the Feds to allow further erosion of the dollar.

Those that would like to see a stronger US manufacturing base will also support this.

Friedman's "Flat earth" in action!

It would be meaningful, and would protect China, Japan, and the Arab states. The one hole in the Chinese central banker's thesis involves the foresight of peer central bankers. Central banker actions have been, and will always be, reactive to markets.

The laissez-faire approach to allow "free" markets to operate will ultimately postpone any idea of creating a global currency until the damage is already done.

Biblical prophecy coming true. Like it or not.

@Larry, please turn off your CAPS. No need to scream at everyone. Also, the topic is specifically about macro-economy and the role of currencies. I'm not sure how you jumped from that topic to bashing political figures with only 10 words into your comment.

I BELIEVE IT WILL START AN ALREADY IMPENDING, LOOMING WAR, JUST A LITTLE FASTER. THAT IS SIMPLY MY BELIEF FROM WHERE I SIT. NOW I DON`T SUPPOSE FORMER PRESIDENT RICHARD M. NIXON, HAD HIS VISION GOING THIS FAR WHEN HE NORMALIZE RELATIONS WITH CHINA, AND PROBABLY DIDN`T ENVISION WAR TALK EVER, AS A MEANS OF THE TWO NATIONS BUILDING THE VARIOUS BRIDGES THAT HAVE WEBBED THEM TOGETHER.

yes. It would work. The US Federal Reserve presented a unified monetary system some years ago... where all the states could centralize their indipendent monetary currencies in exchange for the US $. 10 some years ago... EU did the same thing... seems to be working out.

Its true the US government controls the States... that's why we have congress, the different offices, and checks and balances. the EU also is going through these reforms.

I agree with comments made that the central bank will control the governments to some degree. but there has to be a check and balance system.

It would work. are we ready for it? That i dont' know. Is the world ready to have such a "world peace"? I think we are not. but it would work.

Not a good idea for us and it won't work as planned.

If you think this is a good idea, you have to be insane! Think this through people. Monetary control will shape our laws, dimish our freedoms and change the very landscape of America as we know and love it today. Everything we have fought for, the millions of Americans that have died for this country will all be forgotten. Read your constitution! It starts out by "We the people"...forget that statement?
The world is composed of many different cultures. We worship different Gods. How could one believe that there will be perfect harmony. Ask yourself, do you worship every god, agree with the laws of every country? Probably not, that why you prefer to live in America.
Problem is Obama,Bernake and Geithner have single handedly destroyed our dollar which has left us with no cloat. Nor do these three stooges have the backbone to take a stance in protecting our freedoms.
Please think this through, read your constitution and remember what our founding fathers stood for. If this happens, this will change our world and the future of our children and children's children.
If you still believe this is a good idea, than start to learn to speak Chinese, you'll be ahead of the game!

They destroyed the USD in 2 months? Past tense?

Haven't you heard? They had to save the whole financial system by handing out money to banks and other large casin- I mean, financial institutions. There was no other way to get credit flowing again. None. Not one other way. These mismanaged, possibly fraudulent institutions are the only vehicle we have. ;)

Well don't worry: Since every other country is simultaneously inflating, the USD will only devalue at a ratio relative to it's hegemony in world trade.

We have a bigger pool to flood with the same % of $...