Russia Shows off New World Currency
In macroeconomics, no global meetings are as powerful as G8 summits. The eight largest economic countries come together to decide economic policy, both for themselves and the world. Usually the G8 meetings come and go, with very little of anything other than pictures coming out of the world-wide talks.
This Year’s G8 Topics – Global Warming And The Dollar
The G8 met with a variety of topics on their plate. The first of which, global warming, which was virtually thrown out of the meeting after reviewing the proposals. The group of 8 nations declared to put a stop to global warming should temperatures increase more than 2% from 2008’s world average temperature. Barack Obama had hoped that the world’s biggest economic powers could agree to similar climate change legislation as the House had voted on just weeks earlier, but manufacturing centered economies were less than interested
China Calls Out The Dollar
China, which was first in support of the dollar, languished in opposition at the meeting. Russia, which has been critical of the US dollar, showcased a new currency which could be used globally as a reserve currency of the world. At present, the US dollar is the world’s most used reserve currency, backing most of the IMF special drawing rights and also the foreign holdings of many different institutions and governments alike.
The New Reserve Currency
This coin, shown by Russian President Medvedev could be the future reserve currency of the world. In a blatant attempt to discredit the dollar, President Medvedev called for a new world currency, with little connection to the greenback.
The coin would be a super-national currency, one that is accepted in virtually all nations and is backed with the good credit and fiscal balance of the world’s economies. No plans have yet to be made, however, as talks intensify it becomes clear the objective of many foreign leaders in changing the reserve currency of the world.
The Russian President Mr.Medvedev made the right decision to introduce
the New Global Reservecurrency.The Slogan of the New Reservecurrency
is UNITY IN DIVERSITY and the Name of the New Currency could be the
ACOM or the ACMETAL,which was mentioned by the Kazakh President.The
Shanghai Cooperation Organization (SCO) needs a new currency to unite the national members of the Shanghai Cooperation Organization (SCO),it could be possible to invite other nations in this new Monetary Bloc,Monetary Union or Customs Union in Asia like Japan,North/South-Korea-Korean Republic with Korean Unity Flag.The new Reservecurrency must be introduced as quickly as possible,because the stability of Asia
depends on it,but the economic signs are very good,because the Leaders
of Asia will introduce this new Reservecurrency for the internal and
external trade in Asia and also for the international Community.The
asian nations can trade with South-America the UNASUR=LATINO or SUCRE
currency and also with the AFRICAN UNION=AFRICOM currency,there is no reason,why the asian community should depend on the west.The future of Asia will be great with the new global Reservecurrency the ACOM or the
ACMETAL with the Slogan UNITY IN DIVERSITY.
Tufan Özge.
TOezge@gmx.de
A new world currency with little connection to the greenback? Can anyone find this to be seriously positive? Where would the world be without the USA financing and sponsoring a military that is on demand and on-call when emergency or disaster strikes? Where would freedom and the security of the modern 20th century and 21st century be without the militarily provided security of the USA? I am not trying to pump up the USA (it is what it is….who would effectively fill our shoes? China? LOL) but facts are facts…… What would happen when nations not dedicated to freedom, human rights or rule of law are suddenly given a ‘fair’ opporutnity with monetary exchange? Are they not techinically profiting off of the international security that has manifested itself under the care of the USA?
Don’t you know if this happens, we will all be in the SAME debt the whole world is in! That is like accepting everyone’s debt! Unless we “forgive” all the debt in the world, AMERICA will be dragged into a GLOBAL debt! Beware when you try to consolidate “power”, which is what MONEY is.
This won’t fly!!
@Tufan Oezge
You are out of your mind! You think by creating a global currency that all the impoverished countries will suddenly become rich like us!
Even China who wants to replace the dollar (and has more economic muscle than Russia) admits the process would take a minimum of 10 years and that is assuming that the proposed new currency is quickly accepted. What both China and Russia don’t want to understand (or prefer to ignore) is that the current mess would have happened regardless of what currency was used. There are even hints that both China and Russia are in a similar bubble to the US and that it is only a matter of time before theirs break.