Tag Archives: New Reserve

China’s Official Press Agency Calls For New Reserve Currency, And New World Order

by Tyler Durden

We assume it is a coincidence that on the day in which we demonstrate China’s relentless appetite for gold, driven by what we and many others believe is the country’s desire to have a call option on a gold-backed reserve currency when the time comes, just posted in China’s official press agency, Xinhua, is an op-ed by writer Liu Chang in which he decries the “US fiscal failure which warrants a de-Americanized world” and flatly states that the world should consider a new reserve currency “that is to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States.”

Of course, if China were serious, and if the world were to voluntarily engage in such a (r)evolutionary reserve currency transition ….

Read more » Zerohege,com
http://www.zerohedge.com/news/2013-10-13/chinas-official-press-agency-calls-new-reserve-currency