Sunday, February 28, 2010

Head of IMF Proposes New Reserve Currency

Voltron says: The impending failure of the Euro should prove that monetary union cannot work without fiscal and political union (it's hard enough when you have all three: substitute California and the U.S. for Greece and Europe). So why would they think a global monetary union would work any better. Strange how it comes right on the heels of massive IMF gold sales. So it will be another fiat currency, which will could extend the system for another decade or so, before inevitable collapse.

Top story on drudgereport.

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