You’ve probably never heard of him but Zhou Xiaochuan is the Governor of the People’s Bank of China, which makes him the Chinese equivalent of Ben Bernanke and Alan Granspreen. Except even more powerful.
Zhou is recommending a new “super-sovereign reserve currency” to replace the dollar as a the main global currency and “create an international reserve currency that is disconnected from individual nations and is able to remain stable in the long run.”
The world is getting sick of holding our rapidly depreciating dollars and that means that the U.S. dollar could be headed for a big, big haircut.
Related Posts
- The world’s appetite for oil (06/24/08)
- World Bank worried about global trade (11/09/08)
- Yue Yuen Internaitonal (06/05/08)
- 11,000 Macau construction workers laid off (11/13/08)
- India cuts interest rates (11/03/08)
