Friday, March 27, 2009
"The dollar drops back as China's proposal for an IMF alternative gains ground" - via UK Guardian
"The debate about a global reserve currency run by the International Monetary Fund was sparked by a proposal from China this week.
The dollar tumbled last night when Geithner said he was "quite open" to a Chinese suggestion that the world should move towards greater use of an IMF-created global currency basket of dollars, euros, sterling and yen."
