Just caught a clarification from Dave Ramsey regarding this Global Currency topic and he said that what was proposed was NOT A GLOBAL CURRENCY. Instead, Giethner was open to the idea of creating a NEW MONETARY TRANSFER CURRENCY to be used at the World Bank INSTEAD OF THE US $. This new currency would be used to facilitate loans / transfers between countries rather than the currently used US$. Dave said many conservatives are interpretting the comment incorrectly.

It still seems like it would decrease the percieved value of the dollar though.