Over the past several months we’ve seen world leaders begin to call for a new reserve currency (replacing the U.S. dollar) due to the current economic crisis. It now appears that this is entering a new phase – this is no longer simply an idea.
Yesterday, the Russian President actually presented a sample world currency. It’s amazing how fast we are moving towards a world economic system. If this ‘world currency’ coin has already been minted – ask yourself – when did the planning for this begin? It had to be in the planning stages before this crisis ever began. This is what is waiting in the wings once the dollar plummets in value.
With all of the Federal Reserve ‘actions’ over the past year – the dollar’s decline is inevitable. The world is being driven towards a world currency and world economic system. Prepare yourselves – it’s going to be a wild ride.
jg – July 11, 2009
Medvedev Shows Off Sample Coin of New ‘World Currency’ at G-8
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.
Last Updated: July 10, 2009 10:23 EDT