"China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund."
http://www.ft.com/cms/s/0/7851925a-1...0779fd2ac.html
"Countries would entrust a portion of their SDR reserves to the IMF to manage collectively on their behalf and SDRs would gradually replace existing reserve currencies."
The bold part is why I don't believe this will happen...yet
http://www.ft.com/cms/s/0/7851925a-1...0779fd2ac.html
"Countries would entrust a portion of their SDR reserves to the IMF to manage collectively on their behalf and SDRs would gradually replace existing reserve currencies."
The bold part is why I don't believe this will happen...yet
Not all sins are created equal