About time, if the World Bank and IMF would have ever stood up before

[RB TexLa]

we could have actually have a world currency by now. They really owe the world an apology for not getting that done. And the US owes an apology for not pushing this. Thankfully Obama seems to be on board.

World Bank says don't take dollar's place for granted


Sun Sep 27, 2:18 pm ET
WASHINGTON (Reuters) – World Bank President Robert Zoellick said the United States should not take the dollar's status as the world's key reserve currency for granted because other options are emerging.

In excerpts released on Sunday from a speech that he is to deliver on Monday, Zoellick said global economic forces were shifting and it was time now to prepare for the fact that growth will come from multiple sources.

"The United States would be mistaken to take for granted the dollar's place as the world's predominant reserve currency," he said. "Looking forward, there will increasingly be other options."



http://news.yahoo.com/s/nm/20090927/bs_nm/us_worldbank_zoellick_2

[Deja Q]

1. The President said, earlier this year, there was no reason to remove the Dollar.

Also, a one-world currency will be great - the bad news is, without quality control and the other usual whines, nothing will truly improve.

I'm still skeptical on a world currency, and I'm not against it. As with all things, it depends on implementation.

BTW: Do you mean the US government, corporations running it, or someone else? How will a mass migration to a one-world currency affect the global economy? Some details would be nice. I can see the proverbial forest yet the trees are shrouded...

[Deja Q]

2. Addendum: I'll see how this thread pans out before I rec it or otherwise.

But at least it's not the usual reasons for the "Blame America first!"(tm) crowd as to why the US apparently owes the world an apology.

[FarCenter]

3. See "New World Bank head Zoellick is a PNAC member"

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x1000523

Headed up trade negotiations for Bush and pushed many free trade agreements.

[Ruby the Liberal]

4. Wow - straight out of Disaster Capitalism

Thanks for the heads up on that connection.