One World Currency


There is lot of discussion going on across the world on Single Global Currency or One World Currency. here in this blog we attempts to summarise World's thoughts on this. 

“There are serious concerns about how the unwinding of global financial imbalances might affect the external financing conditions in which emerging market economies operate.” Louis Kasekende, African Development Bank

 “It is only when we find ourselves in a real systemic crisis that we tend to move towards global solutions. This implies that the longer the global imbalances continue in a benign way, the more complacent we are likely to be.” Brian Kahn, South African Reserve Bank

“Perhaps the most important message of these earlier thinkers is that policymakers should try to avoid the build-up of dangerous economic imbalances in the first place.” William White, Bank for International Settlements

“The IMF should assume a central role in the resolution of global imbalances.” Ariel Buira, G-24 and Martín Abeles, CEFID-Argentina

“The need for the power to change the availability of liquidity at the global level has been increasingly evident throughout the post-Bretton Woods era as crisis after crisis has underscored the inadequacy of the current institutional framework.” Jane D’Arista, Financial Markets Center


Acmetal
Here is the proposed name for a universal world currency advocated by the president of Kazakhstan.

Kazakh President Nursultan Nazarbayev recently called for the introduction of a new global currency – the “acmetal” – to counter the financial crisis. 
Agence France-Press reported:

“In our view, we must create a single world currency under the aegis of the United Nations,” Mr. Nazarbayev said … “We must make a transition to an absolutely new global currency system based on legitimacy and, in view of all countries, one single monetary system.”

The A.P. said:

Nazarbayev’s proposal has raised eyebrows in some quarters, but the idea was embraced Wednesday by Robert Mundell, who won the Nobel prize for economics in 1999 for helping lay the theoretical groundwork for Europe’s single currency. “It would be a very good idea if the G-20 took that idea up in London,” Mundell said.

Acmetal, or Akmetal as some report it, is a portmanteau of the Greek word “acme” – the highest point or zenith – and “capital.” Boldly, President Nazarbayev suggested that the term capitalism might, in time, be replaced with “acmetalism.”

World's Thoughts On One World Currency- 16/April/2009

Habla Economese? - Feministing
By Courtney
The whole show they did in february devoted to this topic was dumbed down to the extreme, but it was great, because they explained every single term you only sort of knew the meaning to. It's impossible to listen to this .... While having a global reserve currency standard hardly solves all the problems of global currency stability, it does do a damn sight better than the gold standard. That said, the gold standard is not all that Mises promoted. Of course, considering he ...
Feministing - http://www.feministing.com/
Where Is the Global Economy Heading? - Economix Blog - NYTimes.com
By By Simon Johnson
Consider that the US ceased publishing the M3, in 2006, to hide how many dollars are being printed and delivered to the world economy, but now countries are diversifying away from the dollar as reserve currency. .... There is a strong coherence in nature functioning stating that any single problem can accept or admit many sorts of solutions with variable results. Lost and Found department works pretty well on many places returning lost objects because they were not ...
Economix - http://economix.blogs.nytimes.com/
Sdr Currency - Sdr Imf ?! - Finance Blog
By aslanbash
A country participating in this system is necessary, the official reserves of the government or central bank holdings of gold and currencies widely accepted, which could be used to purchase the national currency in the world, ...
Finance Blog - http://finance.varolmak.com/
SDRs - a new world reserve currency?
MoneyWeek - London,UK
The US dollar is currently the world's reserve currency, ie, it's held by many governments as part of their foreign-exchange reserves. ...
See all stories on this topic
implode-explode.com - Implosion News Pick-ups: A 'Copper Standard ...
A 'Copper Standard' for the world's currency system? (telegraph.co.uk). Search IEHI news archive: Enter your search terms. Web, IEHI. Submit search form. 2009-04-16. The beauty of recycling China's surplus into metals instead of US bonds is that it kills so many birds with one stone: it stops the yuan rising, without provoking complaints of currency manipulation by Washington; metals are easily stored in warehouses, unlike oil; the holdings are likely to rise in value ...
Implode-Explode Heavy Industries... - http://implode-explode.com/
 
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By Tom Lydon
The United Nations believes that in order for the world's economy to stabilize, the world should move to a collection of currency, rather than one. Overall, here are some comments about the health of the U.S. dollar: ...
ETF Trends - http://www.etftrends.com/
What Is A Reserve Currency? | Daily Markets
By FT
The topic of replacing the US Dollar as the world's reserve currency crops up more often than the debate on who's going to manage Chelsea. So why not grab a. ... For a long time the Euro was muted as the king-in-waiting, but with the global recession exposing the extreme difference in fortunes across Europe that one's gone a bit quiet. Forex cartoon. Not quite a global reserve currency, but the Gulf States have had their own petro-currency on the drawing board for years. ...
Daily Markets - http://www.dailymarkets.com/
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Seeking Alpha - New York,NY,USA
The best way for the world to secure monetary stability is to move to a Single Global Currency, managed by a Global Central Bank within a Global Monetary ...
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The US doesn't name China a currency manipulator
RGE Monitor - New York,NY,USA
China's exports to world and US imports from China are both falling. Chinese reserve growth — read the amount of dollars China has to buy to keep its ...
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Spot o' tea
guardian.co.uk - UK
... one GOP congressman from Alabama allege that he knows of 17 socialists in Congress; a congresswoman saying Obama wants a one-world currency, ...
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TheStockAdvisors.com - Ormat (ORA): Invest in geothermal power
By Steven Halpern
"We continue to recommend the PowerShares DB U.S. $ Index (NYSE: UUP)," says Jack Crooks. In World Currency Alert he explains why the US dollar will stay the world's main currency. ...
TheStockAdvisor - http://www.thestockadvisors.com/
China reduced its dollar holdings in February
RGE Monitor - New York,NY,USA
The rise in the fall corresponds with the expansion of the Fed's swap lines in the fall, as the world's central banks cooperated to provide a "global" ...
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DailyKenn.com
By Endiana.com
Someday there will be one, universal currency. It will require a central bank. There will be a chairman of that bank. And that person will control the world. — Kenn Gividen. Do I believe in a flat income tax? Absolutely. ...
endiana.com - http://endiana.blogspot.com/
Boffy's Blog: Imperialism, Industrialisation, Trade and Sub ...
By Arthur Bough
The IMF's, SDR's, which were supposed to become world currency or 'paper gold' are a total failure. Hence the increase in the price of real gold. Changes in the Vehicle of Imperialism Alongside changes in the structure of the orld ...
Boffy's Blog - http://boffyblog.blogspot.com/
Global Markets and Foreign Policy » Blog Archive » Paul Krugman's ...
By Josh Hopkins
The World Affairs Blog Network ... Hence Mr. Zhou's proposal to move to a new reserve currency along the lines of the S.D.R.'s, or special drawing rights, in which the International Monetary Fund keeps its accounts. ...
Global Markets and Foreign Policy - http://globaleconomy.foreignpolicyblogs.com/
The Financial New World Order: Towards a Global Currency and World ...
By Terry Melanson
The article continued in stating that, "There is now a world currency in waiting. In time, SDRs are likely to evolve into a parking place for the foreign holdings of central banks, led by the People's Bank of China. ...
Illuminati Conspiracy Archive Blog - http://www.conspiracyarchive.com/Blog/
The Financial Crisis: The United States And Europe After The Storm ...
By Council on Foreign Relations
If you are the reserve currency for the world, and you are not linked to anything that is, let's say, objective, there is the dilemma between preserving the value of the reserve currency for the world, and somehow satisfying your national economic ... the imaginary currency of Keynes, but should we use the SDR? Should we amend the charter of the IMF in order to allow not only the U.S. and Japan as the main shareholders, but also the others to have their share of the SDRs? ...
CFR.org - Democracy and Human Rights - http://www.cfr.org/
Paddy Power Trader | What Is A Reserve Currency? | Spread Betting Blog
By FT
The topic of replacing the US Dollar as the world's reserve currency crops up more often than the debate on who's going to manage Chelsea. So why not grab a coffee and join me in getting to grips with reserve currencies, SDRs and the ...
Paddy Power Trader Spread Betting Blog - http://www.paddypowertrader.com/blog/





 

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