In the past we have discussed at length the inevitable demise of the USD as the world's reserve currency noting that nothing lasts forever. However, when former World Bank chief economist Justin Yifu Lin warns that " the dominance of the greenback is the root cause of global financial and economic crises ," we suspect the world will begin to listen (especially the Chinese. Lin, now - notably - an adviser to the Chinese government, concludes that internationalizing the Chinese currency is not the answer (preferring a basket approach) but ominously concludes, "the solution to this is to replace the national currency with a global currency," as it will create more stable global financial system.

The infamous chart that shows nothing lasts forever...

Nothing lasts forever... (especially in light of China's earlier comments [21])

Via China Daily,

The World Bank's former chief economist wants to replace the US dollar with a single global super-currency, saying it will create a more stable global financial system .