The End of the $ as the reserve currency of the world.

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China Calls For International Oversight Of The US Dollar, Suggests Single Global Currency Replace It

Alexander Higgins blog.

China is demanding “international supervision over the U.S. dollar” and says they are looking at the option of creating a new single global currency to replace the dollar altogether.

China has published an article in its stated owned Xinhua news agency that rails against the United States for losing its AAA credit rating and has issued a series of demands to U.S. policy makers and the international community.

China begins by railing against the “arrogance and cynicism from some Western commentators” in regard to the credit rating downgrade of U.S. debt that was issued by China’s Dagong Global credit rating agency last year and goes on to state that they have the right to demand the U.S. address its debt problem to protect the Chinese dollar.

In concluding the article China is calling upon the international community to intervene with a program of “international supervision over the U.S dollar” while indicating they are looking at the option of creating a global currency to replace the dollar altogether.