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IMF Chief Called for World Currency Before He Was Charged with Sexual Assault

So Why the Long Face, Dominique?

COMMENT: We don’t know if this is related to Dominique Strauss-Kahn’s recent arrest for alleged sex­ual assault, but it sure is what we refer to as “Food for Thought, Grounds for Fur­ther Research.”

Did Mr. Strauss-Kahn piss off the “rich and famous”?

“IMF Boss Calls for Global Cur­rency” by Heather Stew­art; The Guardian [UK]; 2/10/2011.

EXCERPT: Dominique Strauss-Kahn, man­ag­ing direc­tor of the Inter­na­tional Mon­e­tary Fund, has called for a new world cur­rency that would chal­lenge the dom­i­nance of the dol­lar and help curb future finan­cial instability.

In a speech in Wash­ing­ton, Strauss-Kahn argued that the reserves that mem­ber coun­tries held with the fund could be used, instead of the dol­lar, to price inter­na­tional trade. These so-called spe­cial draw­ing rights (SDRs) could also act as an alter­na­tive to the dol­lar in cen­tral banks’ for­eign cur­rency reserves.

“Using the SDR to price global trade and denom­i­nate finan­cial assets would pro­vide a buffer from exchange rate volatil­ity,” he said, while “issu­ing SDR-denominated bonds could cre­ate a poten­tially new class of reserve assets”.

The IMF pub­lished a pol­icy paper back­ing Strauss-Kahn’s views as it gath­ered top-level econ­o­mists for dis­cus­sions on the future of the inter­na­tional mon­e­tary system. . . .



Discussion

6 comments for “IMF Chief Called for World Currency Before He Was Charged with Sexual Assault”

  1. Why and how could the IMF that gives our tax dol­lars to “third world” coun­tries around the world have any pos­si­ble chance of issu­ing a cur­rency that is backed by noth­ing but “trust” have bet­ter results than our own dol­lars that have a fast-slipping value due to mas­sive debt by the gov­ern­ment of the USA?

    Posted by BOB SEVERIN | May 16, 2011, 9:15 pm
  2. Well........I guess it’s always pos­si­ble, but he still could be guilty, though. Maybe.

    Posted by Steven | May 16, 2011, 11:35 pm
  3. This dec­i­mates the French left and makes Marine Le Pen the power bro­ker as Sarkozy will have to make a deal to keep in office.

    Viva La Raza Blanca!!!

    Posted by Ian Santiago | May 17, 2011, 10:00 am
  4. [...] con­nec­tions that I would like to men­tion here. First, as heroic anti-fascist researcher Dave Emory men­tionned, Strauss-Kahn appar­ently sug­gested the cre­ation of a world cur­rency that [...]

    Posted by The arrest of Dominique Strauss-Kahn: Can we resist putting on the grill a powerful socialist…or the King of Jerusalem | lys-dor.com | May 17, 2011, 10:53 am
  5. As we wit­nessed with Eliot Spitzer, a polit­i­cal hit needn’t pre­clude guilt.

    In fact, a smart assas­si­na­tion uti­lizes the pre-existing heart con­di­tion when admin­is­ter­ing a heart attack.

    Lib­eral econ­o­mist Dean Baker says that Dominique Strauss-Kahn was a reformer, and that “the whole world will suf­fer” with his down­fall ... Much like Eliot Spitzer.

    Posted by R. Wilson | May 28, 2011, 10:43 pm
  6. Posted by R. Wilson | May 28, 2011, 10:43 pm

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