The Chinese have floated the idea, the Russians are keen, the Americans indicate they might ("yes, but no") support it and the IMF could run it... a new global currency. Is this idea just barmy talk, geopolitical posturing or could it actually happen?
In my post here yesterday on the worries about the Government being able to continue its binge borrowing, much of the comment discussion was on this idea. My first reaction was "What a loony idea, that'll never happen!" but then the Americans suddenly seem to have helped it run.
What do people think?
