Flashback: IMF Calls For New Global Currency To Replace Dollar

I posted this well over a year ago and got the usual laughs and Ad-Hoc attacks.....Here we are today and realizability has once again set in.....They TELL you what they are going to do....yet few believe it.....why??


This chart shows how the IMF projects the gradual replacement of the dollar with greater holdings of SDR's:

From the IMF press release...

Over time, Mr. Strauss-Kahn said that there may be a greater role for the IMF’s international reserve asset, called the Special Drawing Right, or SDR, to contribute to a more stable monetary system. Although a number of obstacles remain in the way, increasing the global stock of SDRs could help alleviate global imbalances by reducing the need for an excessive buildup of reserves, he said. He added that issuing SDR-denominated bonds could create a potentially new class of reserve assets, and that use of the SDR to price global trade and denominate financial assets would provide a buffer from exchange rate volatility.
Bye Bye America