Russian President Medvedev Shows Off Sample Coin of New ‘World Currency’ at G-8

[Syndroma]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aeFVNYQpByU4


Russian President Dmitry Medvedev illustrated his call for a supranational currency to replace the dollar by pulling from his pocket a sample coin of a “united future world currency.”

http://i25.tinypic.com/6roec3.jpg

[Mr.K]

Looks like crap.

Unity in diversity, isn't it an oxymoron? Diversity for some reason makes me instantly think of the cliché of the white guilt ridden college students who think that anyone who is not white,just got of the plane 2h ago, doesn't speak the country's language and wears traditional clothing is a remaquable asset to our culture.

And where is the word "Freedom".

Also, considering medvedev's small stature, this "token" is either tiny or would not fit in his palm ;).

Remind's me of Russia's channel 1 logo

http://www.geogtv.com/videos/perviy_1_kanal.gif

[Herman the II]

Looks like crap.

Agreed, nice media stunt though.

[Umbro2914]

unity ey...

http://3.bp.blogspot.com/_FDAo0RFRC2o/R80FO3bg4YI/AAAAAAAAAAw/cJaOMyU1q6M/s320/v_for_vendetta.jpg

[Ulytau]

Whats about the paper ones ? O.o

[Lazarou]

In varietate concordia (United in diversity) is the motto of the European Union.

The whole story smells like BS.

[Jiggy]

could be chocolate lol.

[Nobi]

But this is not good for american banks, no more interest and prime rate from and for the whole world and no more gratis money for america, to bad. :-(

[Mr.K]

But this is not good for american banks, no more interest and prime rate from and for the whole world and no more gratis money for america, to bad. :-(

There are winners and losers in capitalism. Thats how it works.
I wouln't be sad, unless you work in a US Bank.

[intelligenzija]

first the Amero conspiracy, now this...

[WKD]

could be chocolate lol.

Wait, you mean it's not?

[Aeroflot]

Looks like a Russian Euro, cept I always thought they'd put a vodka bottle on it.

[Red_Fern]

No... One world currency is a bad idea. We go to one world currency, one world government wouldn't be far behind.

Bad idea. Each nation's own sovereignty goes right out the window.

Scary to think about. All this liberal-minded "change" is really scaring me. It almost looks like they're trying to establish some sort of twisted utopia... :cantbeli:

[Aeroflot]

No... One world currency is a bad idea. We go to one world currency, one world government wouldn't be far behind.

Bad idea. Each nation's own sovereignty goes right out the window.

Scary to think about. All this liberal-minded "change" is really scaring me. It almost looks like they're trying to establish some sort of twisted utopia... :cantbeli:

But how can you claim to fight for sovereignty when many countries contain nations within nations? In effect, this is what a One World Government would be like.

I am not supporting a single worldwide government, by the way.

[void]

No... One world currency is a bad idea. We go to one world currency, one world government wouldn't be far behind.

Bad idea. Each nation's own sovereignty goes right out the window.

Scary to think about. All this liberal-minded "change" is really scaring me. It almost looks like they're trying to establish some sort of twisted utopia... :cantbeli:

The idea is not for a one world currency, the idea is to replace the USD as the world reserve currency. This new currency would only be used for international trade, not for everyday consumer purchases at your local corner store.

The reasoning behind this is simple, the USD as the world reserve currency means that the US monetary policy affects other countries detrimentally in many ways, and it also gives the US a lot of advantages which can be abused. You end up in situations where the US is the only one with the power of issue over USD, but other countries require it for commerce, eg: China buying iron ore from Australia will do so using USD. This results in effects such as the export of inflation from the US to other countries, etc etc.

[Chulo]

The idea is not for a one world currency, the idea is to replace the USD as the world reserve currency. This new currency would only be used for international trade, not for everyday consumer purchases at your local corner store.

The reasoning behind this is simple, the USD as the world reserve currency means that the US monetary policy affects other countries detrimentally in many ways, and it also gives the US a lot of advantages which can be abused. You end up in situations where the US is the only one with the power of issue over USD, but other countries require it for commerce, eg: China buying iron ore from Australia will do so using USD. This results in effects such as the export of inflation from the US to other countries, etc etc.
http://en.wikipedia.org/wiki/Transnational_progressivism (http://en.wikipedia.org/wiki/Transnationalism)

[Bro Jangles]

FVCK coin money. we Americans love our paper. Jingling pockets is communist!!

[sinophile]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aeFVNYQpByU4

http://i25.tinypic.com/6roec3.jpg

The coin is in English. Symbolic refutation of the idea within the idea. Gotta love it.

BTW - they're pissed because there is a SHORTAGE of USD in the world markets. That's right campers... shortage. You heard it here.

[void]

Again, there is a difference between one world currency (that is used for everything), and a non-USD based reserve currency. The latter is very much preferred to the former. One proposal for the latter is to use IMF SDRs as reserve currency. SDRs CANT be used for normal day to day transactions, so yeah...

[Red_Fern]

But how can you claim to fight for sovereignty when many countries contain nations within nations? In effect, this is what a One World Government would be like.

I am not supporting a single worldwide government, by the way.

I understand what you're saying. A one-world government would only undermine the current system even more though. (The nations within nations concept you spoke of.)

Allegiances would still drift back to how they were, and you'd still have disagreements and people at odds with one another.

[dttk0009]

I kinda like it :)

[Winger]

The coin is in English. Symbolic refutation of the idea within the idea. Gotta love it.

BTW - they're pissed because there is a SHORTAGE of USD in the world markets. That's right campers... shortage. You heard it here.

Well, English is the best language. No argument there.

[DaveDash]

OPEC nations will have to agree to stop trading oil in USD before the USD will be removed as a fiat currency. Given the amount of US troops stationed in most OPEC countries, not gonna happen any time soon.

[MaverickCowboy]

Great. now theres going to be a BIGGER back order on guns .

[Bro Jangles]

Great. now theres going to be a BIGGER back order on guns .
best slippery slope ever!

[LRPV]

FVCK coin money. we Americans love our paper. Jingling pockets is communist!!

Here's one for you...

http://img129.imageshack.us/img129/1227/11746943.jpg

[Bro Jangles]

ive got some Confederate money actually.

[MaverickCowboy]

I honestly hope this doesn't happen.

also don't want the new world order nuts to be right.

[vryhpyammoadded]

Great. now theres going to be a BIGGER back order on guns .
LOL, you think that’s bad, try getting reloading gear these days. Lee actually attempted to renege on an order I've been waiting on for three months. Since then prices have gone up so they sent this letter where way down in the fine print it said...

"You can continue to wait for your order but if you do not respond by (date) saying you still want it, we will cancel your order"

Note, they were already paid over $200 and the notice got to me the same day the notice was due.

But, I still got through in time and a week later got my new turret press.

Greedy Bastards!

Anyway, talk about a serious global approach avoidance conflict with attempting to issue a new reserve currency while the US managerial elite are screwing everyone just to stay alive from day to day. I’m excited to see how this all pans out.

[Umbro2914]

BTW - they're pissed because there is a SHORTAGE of USD in the world markets. That's right campers... shortage. You heard it here.
link?

1234567

[sinophile]

link?

1234567

http://www.bloomberg.com/apps/news?pid=20601087&sid=as14jWcS_Jn4

... and

http://www.bloomberg.com/apps/news?pid=20601109&sid=acuqGLfMZlIc

... and

Deflation continues.

... and

increase in Fed balance sheet is not finding its way into mainstream economy. velocity of money still slow.

For now...

[Hyde]

No... One world currency is a bad idea. We go to one world currency, one world government wouldn't be far behind.

Bad idea. Each nation's own sovereignty goes right out the window.

Scary to think about. All this liberal-minded "change" is really scaring me. It almost looks like they're trying to establish some sort of twisted utopia... :cantbeli:

What is it with you people? Don't you get anything? :cantbeli:

This coin is symbolic, what they really mean by one world currency is to create a trading currency for the international markets which would not be coupled to one country's economy and thus would not endanger the whole worlds economy if this one country's economy fails like the US's did at the end of last year. Is that so hard to understand?

[Red_Fern]

I get it. But it's this "step" that may eventually pave the way for an across-the-board one world currency. Which would be bad.

[Hyde]

Please put your cliché fears away... So you know it would definitely lead to that and you know it would be bad? Out of what experience do you get the base of knowledge to assess that this would actually be bad? Do you live in the European Union? If yes, you would have seen first hand that the forming of a unified currency is positive for the economy, the Euro has overtaken the Dollar in worth already a few years ago, at least having a solid, un-coupled, independent currency for international trade would be a huge stability factor for the world's economies, and it would in no way negatively affect any country's economy, that is the whole point. If it gives positive aspects but you don't have to trade negative ones in, it is just a plus, so it can't be bad. If no new one (trading currency) is created, a few years down the road the euro could take that position naturally or some of the bigger economies like the EU, Japan, China etc could form one for easier trading, with or without the US.

[Red_Fern]

Please put your cliché fears away... So you know it would definitely lead to that and you know it would be bad? Out of what experience do you get the base of knowledge to assess that this would actually be bad? Do you live in the European Union? If yes, you would have seen first hand that the forming of a unified currency is positive for the economy, the Euro has overtaken the Dollar in worth already a few years ago, at least having a solid, un-coupled, independent currency for international trade would be a huge stability factor for the world's economies, and it would in no way negatively affect any country's economy, that is the whole point. If it gives positive aspects but you don't have to trade negative ones in, it is just a plus, so it can't be bad. If no new one (trading currency) is created, a few years down the road the euro could take that position naturally or some of the bigger economies like the EU, Japan, China etc could form one for easier trading, with or without the US.

How do you know that it will be good? How do you know it won't lead to something like what I proposed?

[Hyde]

How do you know that it will be good? How do you know it won't lead to something like what I proposed?

I don't know if it will lead to what you suggested nor have I said it will not, maybe in the long run it will, but it is very unlikely, even achieving a common trading currency is the highest of compromises, and that it will be a good thing is pretty sure, otherwise it would not be done. It may on one hand not be that good for the united states because it would compromise their domination and with that a lot of other aspects of it's economy, but on the other hand it would create a lot more potential and is inavoidable because it is clear that, as the share of economic power of the rest of the world grows, they will be, or already are, longing for a trading currency wich is no linked to america's economy, and if nothing new and independent is found they will go with the euro or the pound, just whatever it takes to gain financial stability and security. Now, replying to questions with inverted questions and not answering one of them is ridicoulus if it doesn't serve a point. And it clearly doesn't so I will have to call bs on your fears, and an unwillingness to learn about things, think and widen your horizon on your behaviour. Don't be so narrow minded :roll:

[Red_Fern]

I'm not being narrow minded. It's just with all the other "change" being ushered through, who knows what'll try to be slipped in under the radar, you know?

[Hyde]

No one would harm himself, so no solution would be implemented if it would be to the disadvantage of anyone.

[void]

I'm not being narrow minded. It's just with all the other "change" being ushered through, who knows what'll try to be slipped in under the radar, you know?

Whether the USD is replaced by a new currency, or by a basket of currencies it doesnt really matter, but it needs to be replaced. So one solution is to replace it with IMF SDRs, which cant even be considered as "currency" in the classical sense, so your fears are unfounded in that regard.

The point is, in certain situations, it is advantageous for a country like the US to implement a monetary policy which is contrary to how a reserve currency should behave. eg: when in huge debt, inflate away the debt by printing more money, thus reducing the real value of the debt. This is good for the US, bad for everybody else who holds the USD. If the reserve was not just one currency, but either a basket or an international "currency", this wouldnt be so much of an issue.

[HellToupee]

I get it. But it's this "step" that may eventually pave the way for an across-the-board one world currency. Which would be bad.


Why would a one world currency be bad?

[Red_Fern]

One world currency --> One world government --> Loss of independent sovereignty, bad idea across the board, I think.

Sometimes being separate is better, don't you think?

[Soldat_Américain]

First of all the USD does not need to be replaced...and you can't really have a currency just for trading on international markets, who would print it? Also how would it be worth a cent(pennies are not actually worth the mount of copper put into them)

[AlexMartin2]

First of all the USD does not need to be replaced...and you can't really have a currency just for trading on international markets, who would print it? Also how would it be worth a cent(pennies are not actually worth the mount of copper put into them)

Unfortunately for US, almost all countries think otherwise. US dollar is already lost any credibility and we don't see fleeing from it only because it is nowhere to go yet. If someone will offer better solution - we could see fall of US financial hegemony in a month.

[Soldat_Américain]

Unfortunately for US, almost all countries think otherwise. US dollar is already lost any credibility and we don't see fleeing from it only because it is nowhere to go yet. If someone will offer better solution - we could see fall of US financial hegemony in a month.
Well go buy your Euros or use the Rubles...or maybe that Chinese currency that keeps changing names...using an international currency as a reserve currency only for international trade makes like no sense...because to me it wouldn't be worth the paper it's printed on.

[HellToupee]

No not really, we could acomplish so much more as a species by working together instead of working against each other.

IMO one world government is inevitable if technological progress is maintained.

[Soldat_Américain]

And then the world comes to an end...

[Mr.K]

Unfortunately for US, almost all countries think otherwise. US dollar is already lost any credibility and we don't see fleeing from it only because it is nowhere to go yet. If someone will offer better solution - we could see fall of US financial hegemony in a month.

FMI uses this, no it's not the US dollar.
By the way most of exchanges are done electronically, no one cares for paper anymore.

http://www.imf.org/external/np/fin/data/rms_five.aspx


Also, has anyone considered this! Come on it's patriotic and its official in Liberia!

http://www.youtube.com/watch?v=eF3mzTpFCrU

[MaverickCowboy]

No not really, we could acomplish so much more as a species by working together instead of working against each other.

IMO one world government is inevitable if technological progress is maintained.

and thus we become "domestic terrorists" when we lose out sovereignty :D

cause like seriously? No. i wont let a foreign government govern me, my country. With their politics, their rules, and their "united world culture" who knows what politically correct for that type of government? if you void the constitution. what freedoms are we granted? what your proposing is a very dangerous idea and my constitution is something ill fight anyone to the death for, even if that means being a rag tag ****ty force in the forests with god damned depressing state of affairs , low food, water, and lack of medical supplies. because this is my country, and i wont be governed and silver tongued out of my sovereignty for the promise of "working together and advancing as species" because thats a pipe dream and i rather die an american than anything else.

[HellToupee]

and thus we become "domestic terrorists" when we lose out sovereignty :D


Well it would solve international terrorism once and for all :P

[MaverickCowboy]

Well it would solve international terrorism once and for all :P

re read. the rest of my post

[dindin]

One world currency --> One world government --> Loss of independent sovereignty, bad idea across the board, I think.

Sometimes being separate is better, don't you think?



You think US currency separate

[Soldat_Américain]

and thus we become "domestic terrorists" when we lose out sovereignty :d

cause like seriously? No. I wont let a foreign government govern me, my country. With their politics, their rules, and their "united world culture" who knows what politically correct for that type of government? If you void the constitution. What freedoms are we granted? What your proposing is a very dangerous idea and my constitution is something ill fight anyone to the death for, even if that means being a rag tag ****ty force in the forests with god damned depressing state of affairs , low food, water, and lack of medical supplies. Because this is my country, and i wont be governed and silver tongued out of my sovereignty for the promise of "working together and advancing as species" because thats a pipe dream and i rather die an american than anything else.
wolverines!

[dindin]

No not really, we could acomplish so much more as a species by working together instead of working against each other.

IMO one world government is inevitable if technological progress is maintained.


working togheder 100% solutions, Imagine if we united how better this world could be, no more war, no more innocent ppls sufer, instead we should invest billions on space explore toghether, medical research,nanotech,green energy,etc...

[Mr.K]

working togheder 100% solutions, Imagine if we united how better this world could be, no more war, no more innocent ppls sufer, instead we should invest billions on space explore toghether, medical research,nanotech,green energy,etc...

I smell a proletarian international, you commie!
No more war? Mp. net will close down!:bash::)

[dindin]

you right i apology for that lol

[MaverickCowboy]

:bash:
wolverines!

FECKIN A!

[Anthony91]

Not a bad looking coin, or for that matter a bad idea. Though these days, like others, it's not what's needed.

I think we should go back to using salt and rice as currency.

[sarhat]

Too many benefits have a country, which currency is used like an world reserve currency. too many p-)

Euromonitor
Historic - US$ mn USA Trade balance
1977 -37229,0
1978 -40199,0
1979 -35862,0
1980 -31419,0
1981 -34637,0
1982 -38442,0
1983 -64239,0
1984 -122387,0
1985 -133648,0
1986 -155136,0
1987 -170321,0
1988 -137116,0
1989 -129110,0
1990 -123395,0
1991 -86633,0
1992 -105760,0
1993 -138665,0
1994 -176588,0
1995 -186109,0
1996 -196952,0
1997 -209838,0
1998 -262215,0
1999 -363643,0
2000 -436104,6
2001 -411897,5
2002 -468265,0
2003 -532350,4
2004 -650929,6
2005 -767476,9
2006 -817303,7
2007 -794482,3
2008 -799597,0

[MaverickCowboy]

Too many benefits have a country, which currency is used like an world reserve currency. too many p-)


Historic - US$ mn
1977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007
2008USATrade balance-37229,0-40199,0-35862,0-31419,0-34637,0-38442,0-64239,0-122387,0-133648,0-155136,0-170321,0-137116,0-129110,0-123395,0-86633,0-105760,
0-138665,0-176588,0-186109,0-196952,0-209838,0-262215,0-363643,0-436104,6-411897,5-468265,0-532350,4-650929,6-767476,9-817303,7-794482,
3-799597,0

??????

then....deal with it?

[eskachig]

??????

then....deal with it?Pretty sure they're trying to.

[Mr.K]

Too many benefits have a country, which currency is used like an world reserve currency. too many p-)

Euromonitor
Historic - US$ mn USA Trade balance
1977 -37229,0
1978 -40199,0
1979 -35862,0
1980 -31419,0
1981 -34637,0
1982 -38442,0
1983 -64239,0
1984 -122387,0
1985 -133648,0
1986 -155136,0
1987 -170321,0
1988 -137116,0
1989 -129110,0
1990 -123395,0
1991 -86633,0
1992 -105760,0
1993 -138665,0
1994 -176588,0
1995 -186109,0
1996 -196952,0
1997 -209838,0
1998 -262215,0
1999 -363643,0
2000 -436104,6
2001 -411897,5
2002 -468265,0
2003 -532350,4
2004 -650929,6
2005 -767476,9
2006 -817303,7
2007 -794482,3
2008 -799597,0

It's over 1000 billion.

[Mastermind]

Not a bad looking coin, or for that matter a bad idea. Though these days, like others, it's not what's needed.

I think we should go back to using salt and rice as currency.
Actually, this is not as bad an idea as it seems. Trading in floating value commodities is exactly what the oil market is all about. You can lose your ass very quickly...same as you can in trading currencies. The idea of a new world currency comes up now and then throughout the centuries.

Regardless of what currency is used or commodity, someone will eventually corner the market and artificially control the value. This was done with the Pound Stirling, the Franc, and several other currencies over the decades...and every commodity is vulnerable to being cornered or leveraged even for a short time...look what G Soros has done with currencies all over the world for the last 20 years.

[Russianlynxy]

Regardless of what currency is used or commodity, someone will eventually corner the market and artificially control the value. This was done with the Pound Stirling, the Franc, and several other currencies over the decades...and every commodity is vulnerable to being cornered or leveraged even for a short time...look what G Soros has done with currencies all over the world for the last 20 years.

Excellent. This is exactly what I was talking about earlier. However, in this case China is looking to take over the spot. Notice how even though it was the Russian president who received this coin gift which he presented, it is the Chinese being the most obnoxious about it.

China needs a currency it can control so it can eventually pigeonhole other industrialized nations into economic dependency which will give the PRC carte-blanche in whatever foreign policy venture they may want to go on in the near future.

I think a good number of politicians nowadays understand this factor, which is why the reserve currency idea is passed off suspiciously.

For a global currency you need a truly globalized society with some sort of common goals, however our world is filled with different countries, each with their own interests. Money is a means by which to achieve them.

[sinophile]

Too many benefits have a country, which currency is used like an world reserve currency. too many p-)

Euromonitor
Historic - US$ mn USA Trade balance
1977 -37229,0 1978 -40199,0
1979 -35862,0 1980 -31419,0
1981 -34637,0 1982 -38442,0
1983 -64239,0 1984 -122387,0
1985 -133648, 1986 -155136,0
1987 -170321,01988 -137116,0
1989 -129110,0
1990 -123395,0
2004 -650929,6
2005 -767476,9
2006 -817303,7
2007 -794482,3
2008 -799597,0

You don't understand how reserve currencies work. There must be enough money supply of the reserve currency to accommodate transactions having nothing to do with assets in the US. The US Treasury and Fed are creating liquidity for the world at great national expense because creating this liquidity necessarily means increasing US debt such that money supply matches demand.

When commodity and property speculation exceeds the supply of money there is deflation, and deflation is EXACTLY what the world is currently facing and precisely what the USGOV is battling right now.

You are fighting a fire that has not yet started.

[sinophile]

China needs a currency it can control so it can eventually pigeonhole other industrialized nations into economic dependency which will give the PRC carte-blanche in whatever foreign policy venture they may want to go on in the near future.

China spends far to maintain domestic stability then "foreign policy ventures".

Their talk of a non-US reserve currency is mostly for domestic consumption and has little do with actually wanting a global currency.

[MaverickCowboy]

heres a nice world currency.

GOLD.

literally. GOLD.

[StinkyStreet]

ive got some Confederate money actually.

more valuable than IOUs?

http://farm3.static.flickr.com/2486/3711048621_7738b06d21.jpg