New Crisis, New Currency? --- "The economic crisis is grave indeed. Perhaps what is needed is a new currency."

David Cameron: world on brink of new economic crisis … The world stands on the brink of a new economic crisis that would leave countries like Britain “staring down the barrel,” David Cameron has warned … David Cameron (left) said that Western politicians must show more ‘leadership.’ …The Prime Minister said that the failure of leaders in the US and Europe to tackle government deficits now “threatens the stability of the world economy.” – UK Telegraph

Dominant Social Theme: The economic crisis is grave indeed. Perhaps what is needed is a new currency.

Free-Market Analysis: David Cameron joined a number of other prominent leaders in warning about the perilous state of the West’s and the world’s economy. At the same time, we learn, French President Nicolas Sarkozy is pushing US President Barack Obama to support adding the Chinese yuan to the IMF‘s SDR basket. SDRs have been suggested as a potential new, global currency that could take over from the sputtering dollar.

Something certainly needs to be done, we are told. The economic news is grim and Cameron’s speech was triggered by yesterday’s market drop, which saw stocks fall around the world. The FTSE-100 took its biggest drop in more than two years. The Dow was down some four percent. The West’s largest economies are toppling back into recession, according to Cameron and others.

complete article at the DailyBell.com:

http://www.thedailybell.com/2986/New-Crisis-New-Currency

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