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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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