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Tuesday, September 8, 2009

United Nations: Dump the dollar as the world's currency

From the Telegraph:

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.
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And gold goes through $1000 like a hot knife through butter!

1 comment :

Anonymous said...

So the dollar is getting whacked... there goes the deflation theory!!