The Coming New World Currency...

[Ben]

Not really a fan of Alex Jones. Too conspiratorial for me. Doomsday is everyday for Alex Jones -- ha! ha!
But I'm a fan of the economist Mark Weisbrot:


YouTube - Mark Weisbrot: The Coming New World Currency - Alex Jones Tv 1/2 (http://www.youtube.com/watch?v=j7UrZsp9X80)

YouTube - Mark Weisbrot: The Coming New World Currency - Alex Jones Tv 2/2 (http://www.youtube.com/watch?v=50gGHMQRDIA)

[Ben]

And Mark Weisbrot's articles:

http://www.guardian.co.uk/profile/markweisbrot

[Stavros]

Given the struggle Europe is having holding the Euro together the concept of a 'world currency' is laughable, quite apart from the practicalities.

[theone1982]

Actually, this was just on the mainstream news a few days ago. Representatives from China, India, Russia, and Brazil met on some Chinese island to discuss the creation of a new global currency to replace the dollar, because it isn't stable enough.

[Stavros]

But that's not really a global currency, more like a benchmark currency to replace to dollar...if by global currency is meant one currency for all, which is what I thought it meant, then its unworkable; not sure about a new benchmark currency, or basket of currencies, given that returning to the Gold Standard is not favoured by enough states.

[hippifried]

It's going to happen sooner or later. There'll probably be regional currencies, like the euro, pop up first. Negotiations are already under weigh in Asia & South America. I don't see why everybody's so worried. The dollar, as the official reserve currency, was the defacto world currency from 1946 to '71, because all the world's currencies were pegged to it under Bretton Woods. That 25 years saw an unprecidented worldwide stable economic boom that created the middle class as we know it today. The flaw was the peg to gold. It was the bogus "gold standard" that crashed the treaty, when speculators deliberately forced a devaluation which turned into a complete debasement. We've been caught in an inflationary spiral ever since. What we're doing now is unsustainable, & there's never going to be another "gold standard". There was never enough gold in reserve to back anything anyway. The value of gold, aside from its properties as a conductor, is nothing but mystique. A world currency woud be stable, since money's just numbers in a ledger anyway. As far as I'm concerned, we need a total rethink on all the economic theoretical mythology.