Comment by: Francis Soyer
In a language that everyone can understand what the article below is about is the following. China as confirmed by wickileaks in anticipating the new monetary system a year or so from now that WILL be GOLD and SIlVER backed is sending the message that as probably the LARGEST holder of Gold and Silver will INSIST on having the LARGEST voting power at the IMF. Is a case of "he who has the gold makes the rules" type of thing...
Thursday, May 19, 2011 - 07:54
China PBOC: New IMF Leadership Should Reflect New World Order
BEIJING (MNI) - The new IMF leadership needs to reflect changes in the world economic order and be more representative of emerging market economies, Chinese central bank governor Zhou Xiaochuan said Thursday in his first public comments since the arrest of Dominique Strauss-Kahn.
"The senior management team of the IMF should better reflect changes in world economic patterns and should be more representative of emerging market economies," he said.
Zhou also said he regretted Strauss-Kahn's decision to resign as the Managing Director of IMF.
"The current world economy is recovering slowly from the financial crisis and the European sovereign debt crisis is at a key stage. A powerful IMF support is needed to overcome current difficulties facing Europe and ensure world economic developments are on a robust, sustainable and balanced track," Zhou added.
German Chancellor Angela Merkel reiterated earlier today that the next head of the International Monetary Fund should be a European again.
beijing@marketnews.com ** Market News International Beijing Newsroom: 86-10-5864-5274 **
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