A world reserve currency?

The near bankrupcy of the US dollar, a currency in
which the world is losing trust, after two decades
of mismanagement for political reasons (the independence
of the Fed is more a legend than a reality), shows
the need for a world reserve currency.

The euro cannot meet this role alone. Gold is a
candidate but it has more drawbacks than advantages:
its quantity cannot be adjusted to the evolutions
of needs in a fast changing world.

Therefore that world reserve currency has to be "man made"
and be issued for example by the IMF. But would such a
reserve currency issued by the IMF, as an evolution of its
special drawing rights, inspire trust to the national
(and regional, the case of the ecb) central banks to use
it in their reserves ?

The world should advance to some unity and common governance
to contribute to such trust.

A world reserve currency would be a step towards a federated
world, but it should be completed by other initiatives
going in the same direction.

Our planet is too small to stay divided. Even monetarily.

http://groups.yahoo.com/group/Democratic_globalization/
.

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