Pete Grant and Jonathan Kosares discuss the London G20 summit and the proposals for a structural redesign of the international monetary system to unseat the dollar as the primary reserve currency. A "basket of currencies" concept is considered along the lines of the IMF's Special Drawing Rights (SDR) as is the prospect of a gold component. Also discussed is the Federal Reserve's implementation of a program of quantitative easing -- effectively a monetization of U.S. debt through the outright purchase of Treasury bonds.

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