China and Russia call for new global currency

[xav]

China calls for new reserve currency

By Jamil Anderlini in Beijing

Published: March 23 2009 12:16 | Last updated: March 24 2009 00:06

China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund.
http://www.ft.com/cms/s/0/7851925a-17a2-11de-8c9d-0000779fd2ac.html


At G20, Kremlin to Pitch New Currency
17 March 2009By Ira Iosebashvili / The Moscow Times

The Kremlin published its priorities Monday for an upcoming meeting of the G20, calling for the creation of a supranational reserve currency to be issued by international institutions as part of a reform of the global financial system.
http://www.themoscowtimes.com/article/600/42/375364.htm

[Masterstrokes]

All the nations including China, Russia, Iran, Venezuela etc .. i.e. all who are putting forward this idea do not have concrete proposals to:-

1. Valuation of this currency i.e. how to valuate this reserve currency ? against Gold? Oil? W.R.T. basket of other currencies ... how?

2. Management of this currency i.e. who will manage the fluctuations and rate adjustments? I.M.F., World Bank, U.N. ... All these institutions already have significant U.S., U.K., Japan presence .. so this reserve currency will always be under pressure of U.S. Dollar, U.K. Pound and Japanese Yen.

3. Exposure to this new reserve currency i.e. China has 2 Trillion U.S. dollars worth of treasuries ... will it or Russia dump U.S. dollar and participate in this uncertain global reserve currency which will not be supported by overwhelming majority of G8 or G20.

[Blue_0]

In order for this to become the worlds reserve currency it must be supported by serious economic power that is controlled by a trusted source.

At this time, China and Russia together do not have this type of economic power.
Nor do they have the worlds trust.

When it comes to money, we American's still have the worlds trust not to **** it up. Although at this point it may simply be a case of the rest of the world choosing the least undesirable option.

-- Bluelight

[lachesis]

The new world order started with a false flag economic crash like 1929 ?

[sepheronx]

Russia and China does not need a major economy to have too much influence, all they need is industries to spread around, and that can somewhat equate to economy (but maybe not at the levels as US) and just spread influence in general. China and Russia, like the US, have a lot to say and the world still listens, regardless what you guys may think.

[zg18]

Russia and China does not need a major economy to have too much influence, all they need is industries to spread around, and that can somewhat equate to economy (but maybe not at the levels as US) and just spread influence in general. China and Russia, like the US, have a lot to say and the world still listens, regardless what you guys may think.

In case of Russia , like in the old Tzarist times, Russian political power always was stronger than actual economic strength due to it's geopolitical and strategic position in Euroasia.

[Mikhael]

Yes i have pictures of this new china-russia currency

http://img6.imageshack.us/img6/6441/monopolymoney.jpg


But to be serious probably Euro will be more and more used. For global new world order currency its still to early p-)

[Flagg]

Yes i have pictures of this new china-russia currency

http://img6.imageshack.us/img6/6441/monopolymoney.jpg


But to be serious probably Euro will be more and more used. For global new world order currency its still to early p-)


The Euro is a dangerously flawed currency.....in a region that is incredibly unstable.......particularly in regards to Eastern Europe.

Some of the biggert 2nd tier Euro member states like Italy and Spain are in incredibly deep doodoo....and the 1st tier Euro member states like Germany and France will face increasing pressure to focus domestically rather than Euro wide......

It's a case of the weaker links possibly breaking the chain.

[sinophile]

Repost

http://www.militaryphotos.net/forums/showthread.php?t=153940

[Siddar]

1 Who is going prints this new currency?
2 What do countrys do with there reserves already in other currencys?
3 How do countrys buy oil if its priced in this new currency but there exports are not?
4 Why would countrys give up ability to manage there economys?
5 How does this new currency make the world a better place?
6 Why does this look like a atempt by China and Russia to try and replace dollar and euro as reserve currencies with a unworkable global currency?
7 What would happen to all of the debt around the world held in other currencys?