Talks on new world reserve currency "legitimate": IMF chief

[BelgianMadCow]

Source: AFP

PARIS (AFP) – IMF managing director Dominique Strauss-Kahn said Wednesday that talks on a new world reserve currency to replace the US dollar were "legitimate" and could take place "in the coming months."
<SNIP>
Strauss-Kahn cautioned that the dollar's standing was not seriously threatened.
"I don't believe it and even the Chinese don't believe it," he commented, but he added that the global crisis had "renewed interest" in the issue.
<SNIP>
The issue of the world currency reserve is expected to be raised that the April 2 summit of the G20 club of developed and emerging economies.



Read more: http://news.yahoo.com/s/afp/20090325/bs_afp/financeeconomyimfuschinaforexdollar_20090325194518

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launched by the Chinese, later Russia, India and Brazil joining in, now an IMF opinion.

The G20 may well be the starting shot to a long hot summer.

[acmavm]

1. Now what could go wrong with this scenario?

Yikes!

[newfie11]

2. This could be very scary!!!!

:scared: