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Bloomberg - UN Says New Currency Is Needed

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Bloomberg is reporting that the dollar's role as a reserve currency should be reduced to protect emerging markets from the "confidence game" of financial speculation.

UN countries should agree on the creation of a global reserve bank to issue the currency and to monitor the national exchange rates of its members, the Geneva-based UN Conference on Trade and Development said today in a report.   

Our biggest oversea's trade partners (China, India, Russia and Brazil) are all calling for the replacement of the dollar preferably with a currency not associated with any one nation such as the IMF's special drawing rights aka SDR's. Furthermore the IMF is recommending that emerging market nations should restrict investments in the dollar until a new system is in place.