are so many $ around.
UNITED NATIONS | Tue Jun 29, 2010 4:56pm EDT
"A new United Nations report released on Tuesday calls for abandoning the U.S. dollar as the main global reserve currency, saying it has been unable to safeguard value."
"The report says that developing countries have been hit by the U.S. dollar's loss of value in recent years.
"Motivated in part by needs for self-insurance against volatility in commodity markets and capital flows, many developing countries accumulated vast amounts of such (U.S. dollar) reserves during the
2000s," it said."""A new global reserve system could be created, one that no longer relies on the United States dollar as the single major reserve currency," the U.N. report said."
"Once the dollars begin to float back to the US it will cause a massive problem so all measures will have to be calculated and slow."
"Other currencies may become overvalued for the duration of the change."
"Especially the Euro and the Renmimbi will likely be overvalued."