Hmmmm? There seems to be something adrift in the winds of change.

China Mulls Raising Gold Reserve By 4,000 Tons: Report
From Dow Jones Newswires

via FXStreet.com
Wednesday, November 19, 2008

BEIJING — China’s central bank is considering raising its gold reserve by 4,000 metric tons from 600 tons to diversify risks brought by the country’s huge foreign exchange reserves, the Guangzhou Daily reported, citing unnamed industry people in Hong Kong.
The newspaper didn’t elaborate on the plan.
China’s forex reserves, at $1.9056 trillion at the end of September, are the world’s largest. U.S. dollar-denominated assets, including U.S. treasury bonds and mortgage agency bonds, account for a big proportion of the forex reserves.

http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=82afe43d-8d3c-494d-894d-113c196ed750

Single currency ‘to make Gulf more stronger’

The GCC needs to accelerate its move towards a single currency which would make the whole region much stronger, said Standard Chartered Bank economist Marios Maratheftis.
Once the states put in place a central bank and the necessary institutions a common currency could be up and running in a matter of weeks, he said.

http://www.tradearabia.com/news/ECO_152626.html