The Chinese curse" may you live in interesting times" may be coming true--we will find out at the G20 meeting this week.
"the Kremlin last week called for the creation of a "supranational reserve currency" to be on the agenda at the upcoming G20 meeting in London.
Zhou Xiaochuan, the governor of China's central bank, has expressed a similar desire for a new global reserve currency "that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies."
China and Russia have both experienced severe economic downturns since September 2008, but both blame the U.S. for initiating the global crisis.
If such a currency were to be formed, one that was "disconnected from individual nations," it is possible that some form of global bank would be the creditor.
According to Zhou Xiaochuan, the International Monetary Fund is one potential candidate for this role.
The U.S. president, meanwhile, has said that he does not support a global currency.
Looking at history, there is only one circumstance under which a very large and diverse population would be willing to accept such a massive override and restructuring of the global order.
That circumstance is chaos.
The collapse of the United States of America would certainly create the chaos necessary to justify the formation of a new global reserve currency and ultimately a new world order, with its central power residing in Eurasia".Web Link