Sample Coin of New 'World Currency'

Teki187

Teki187

Teki187

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July 10 (Bloomberg) -- 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.”

“Here it is,” Medvedev told reporters today in L’Aquila, Italy, after a summit of the Group of Eight nations. “You can see it and touch it.”

The coin, which bears the words “unity in diversity,” was minted in Belgium and presented to the heads of G-8 delegations, Medvedev said.

The question of a supranational currency “concerns everyone now, even the mints,” Medvedev said. The test coin “means they’re getting ready. I think it’s a good sign that we understand how interdependent we are.”

Medvedev has repeatedly called for creating a mix of regional reserve currencies as part of the drive to address the global financial crisis, while questioning the U.S. dollar’s future as a global reserve currency. Russia’s proposals for the G-20 meeting in London in April included the creation of a supranational currency.
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So there you have it, New World Currency, who controls it?
 
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Your pictures don't work I'm afraid.

So far as I can tell this is an example of what President Medvedev would like as a new global currency, not that there is anything definite to make this currency or install it as a working unit of finance.
 
surely a "world currency" would cause all sorts of problems. I'm no expert but wouldnt this mean countries in the third world experiencing hyper inflation etc would cause us to have problems as well?
 
I don't get why you are saying "So there it is".

Doesn't mean it is going to be used - it just means that someone has made a coin, it equally could have been made by myself and I could have held it up saying "Currency for the whole world".

Rich
 
I fancy boys said:
surely a "world currency" would cause all sorts of problems. I'm no expert but wouldnt this mean countries in the third world experiencing hyper inflation etc would cause us to have problems as well?
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The tiny economies in Africa and the likes experiencing hyper inflation, would barely be able to influence the combined economies of the world.

As an example, the GDP of the world is about $60 Trillion, and the GDP of Africa is less than $2 Trillion.

Bigger influences would be the EU at $18 Trillion, US at $14 Trillion, Japan at $5 Trillion and China at about $4 Trillion.
 
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