The American Empire in a Changing World


Sunday, June 24, 2012

''Reform of monetary system''

From China Daily

''MF should build multiple reserve currencies including SDR and supervise their issuance and cross-border capital flows''

''Today, the most urgent task for the G20 is reform of the international monetary system. With sharply fluctuating exchange rates, it is difficult to monitor international capital flows, identify financial risks in advance, and save the global system once a crisis happens. If the current international monetary system cannot be successfully reformed, a new great financial crisis will soon be upon us. So, the G20 should focus on its historical mission to urgently reform the international monetary system.''

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