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Question of the Day: What is the ultimate French toast topping?
UN wants a new global currency
- Thread starter Nanfeishen
- Start date
smokey
Honorary Master
BAD! No more speculation... /me sad
Wonder what it would be called... First we have the Euro, then we have the Worldo (Waldo sounds better though...)
Have there been any studies to show how this would affect people in emerging countries and exactly how would prices/wages be set in the aforementioned. Imagine telling someone they earn 300Waldos when their American counterparts are earning 3000. Unions assemble!
Wonder what it would be called... First we have the Euro, then we have the Worldo (Waldo sounds better though...)
Have there been any studies to show how this would affect people in emerging countries and exactly how would prices/wages be set in the aforementioned. Imagine telling someone they earn 300Waldos when their American counterparts are earning 3000. Unions assemble!
killadoob
Honorary Master
O the US will wage a massive war should this ever happen.
Remove the US dollar FTW, it would be awesome to have one currency.
Remove the US dollar FTW, it would be awesome to have one currency.
if this is implemented then it is one step to a one world government. ooooh the horror! i am not opposed to a single global currency but if this power is placed the wrong hands, could be catastrophic... those you controls the distribution of a currency controls the world.
Arbiter
Well-Known Member
Hey, I thought this New World Order and World Bank 2.0 stuff was a joke :?:
Arbiter
Well-Known Member
Why won't it happen? Because we won't let it? Right...
<shady whisper>
All you need to make people turn the world upside down by themselves, is a war. A war will wipe political correctness and human rights off the board and they'll never return.
<end shady whisper>
<shady whisper>
All you need to make people turn the world upside down by themselves, is a war. A war will wipe political correctness and human rights off the board and they'll never return.
<end shady whisper>
Geriatrix
Executive Member
Didn't China propose something similar a few months ago?
Arbiter
Well-Known Member
Indeed they did. And they'll help bring the dollar to a fall by buying lots of stuff with American debt.
"Hoooo! Look look, we ha' Amerikahn Dollahs! We give you many dollahs!"
"Hoooo! Look look, we ha' Amerikahn Dollahs! We give you many dollahs!"
Fieldy
Well-Known Member
This is most definitely bad news having a world currency. It should not be allowed to happen.
What was recommended by many countries was instituting SDR (Special Drawing Rights) as a currency which is measured against a basket of currencies (10-15) from what I remember.
I believe this would be the best idea and it would be used for the settling of trade between countries.
The UN as a the world financial authority will be deeply unfair to developing nations, since it is populated by mostly first world diplomats, and there is not a chance of that changing any time soon.
I think that it would be South Africa's best interest to join the Shanghai Cooperation Organization (SCO) with the other BRIC countries as well as UN so that there are other platforms for diplomatic relations with other countries.
The Western Countries have too much power in the UN, especially the US, whom will be very dangerous if all this happens.
What is the relevance of this announcement now all of a sudden of the world currency?
Well, China, Russia, Brazil and many other large emerging economies are divesting out of the US dollar and making trade agreements to trade with each other using their own currency. There is in the making a currency crisis for the US dollar in the not too distant future, and the US thinks that by using the UN to introduce this policy it can save itself and it's currency, and maintain it's control over the world economy.
I think that the US thinks everyone is stupid. The Chinese, Russians and Brazilians are far more intelligent than they get credit, Especially the Chinese. They are a big problem for the US, especially with their 2 trillion dollar in reserves.
If they become unhappy with the US at any stage, they can literally Destroy America by dumping the dollar and bringing the value of the dollar to 0.
What was recommended by many countries was instituting SDR (Special Drawing Rights) as a currency which is measured against a basket of currencies (10-15) from what I remember.
I believe this would be the best idea and it would be used for the settling of trade between countries.
The UN as a the world financial authority will be deeply unfair to developing nations, since it is populated by mostly first world diplomats, and there is not a chance of that changing any time soon.
I think that it would be South Africa's best interest to join the Shanghai Cooperation Organization (SCO) with the other BRIC countries as well as UN so that there are other platforms for diplomatic relations with other countries.
The Western Countries have too much power in the UN, especially the US, whom will be very dangerous if all this happens.
What is the relevance of this announcement now all of a sudden of the world currency?
Well, China, Russia, Brazil and many other large emerging economies are divesting out of the US dollar and making trade agreements to trade with each other using their own currency. There is in the making a currency crisis for the US dollar in the not too distant future, and the US thinks that by using the UN to introduce this policy it can save itself and it's currency, and maintain it's control over the world economy.
I think that the US thinks everyone is stupid. The Chinese, Russians and Brazilians are far more intelligent than they get credit, Especially the Chinese. They are a big problem for the US, especially with their 2 trillion dollar in reserves.
If they become unhappy with the US at any stage, they can literally Destroy America by dumping the dollar and bringing the value of the dollar to 0.
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Geriatrix
Executive Member
Thereby committing financial suicide...
Yeah, world currency is economical suicide. Yeah, ignore economic integration with backwater developing countries.
And also, the moment they replace the $, watch the US tank, then watch the world tank. Pretty picture? No
And also, the moment they replace the $, watch the US tank, then watch the world tank. Pretty picture? No
Yeah. You just described to us a man sawing his entire leg off because he has a cut on his foot. Repercussions of tanking the dollar? The Chinese aren't supid
d0b33
Honorary Master
Bring it on...
Fieldy
Well-Known Member
For all of you that say China need the US to survive, They do need them for now, but China is buying up resources all over the world to ensure that it will be able to satisfy it's monstrous industrial needs. China is a fresh Industrialist country and have all the resources necessay to fulfil the needs of themselves and their neighbours. Just look how much dollars China is giving to eastern European countries and building economic partnerships with African countries.
Many see this as a bad thing, but China has been very vocal during this crisis about what is views as an imperialist agenda by the West. China is extremely good at diplomacy and are constantly testing the mood of the world.
Just last week China annouced that they would be allowing certain industries to legally default on certain interest rate and currency derivatives issued by Major US Banks. This forced a heavy backlash by the US, but in that time, many other countries announced a similar interest.
The thing is China divesting out of the US dollar at some $100B +- per month and buying hard assets and real estate all over the world.
China is positioning itself to be the world's leader once again.
That's my opinion anyway.
It was the West's past 500 years, and now we are once again ready for some change.
Many see this as a bad thing, but China has been very vocal during this crisis about what is views as an imperialist agenda by the West. China is extremely good at diplomacy and are constantly testing the mood of the world.
Just last week China annouced that they would be allowing certain industries to legally default on certain interest rate and currency derivatives issued by Major US Banks. This forced a heavy backlash by the US, but in that time, many other countries announced a similar interest.
The thing is China divesting out of the US dollar at some $100B +- per month and buying hard assets and real estate all over the world.
China is positioning itself to be the world's leader once again.
That's my opinion anyway.
It was the West's past 500 years, and now we are once again ready for some change.
Because its not logical or sustainable to set monetary policy globally which is what this amounts to. They're having enough problems within the EMU.
The problem for China is that if they want to continue to peg their currency at a weaker level to sustain export led growth they're going to need to continue to buy US$-denominated assets.
d0b33
Honorary Master
According to US apologists...
Please explain how they could do it another way then?
d0b33
Honorary Master
I got nothing... I don't consider myself an expert, just don't accept everything I read in western newspapers.
That was just a little citation added there....
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