Reply to: Proposals for a "world" currency

[denver2k]

Go back to good old fashioned "Gold" as our money. Use real commodities. No fake wealth generation "from thin air".... Thats the way forward....

[Not So Wise]

Actually we already have a World currency, it's called the Dollar ($).
Just China stirring it.

Dollar is not a real "world currency" because one country controls the production of it

That said, we will not see a real world currency in our life time, would say good 100+ years until circumstances (read politics) are somewhat right for such a currency for international transactions and probably another 100 years before we would see man on street using it

And my bet is/when it happens it will be called "credit"

[denver2k]

It's economic news. In CUK terms therefore, it is by definition bad for the UK.

Actually this isn't news. China has been trying to reduce its reliance on the dollar for months. And it isn't the only country tying to do that.

Unlike UK which rely too much on Yanks and good old Gordon

[PM-Junkie]

What does that mean for the UK?

It's economic news. In CUK terms therefore, it is by definition bad for the UK.

Actually this isn't news. China has been trying to reduce its reliance on the dollar for months. And it isn't the only country tying to do that.

[Doggy Styles]

http://www.businessweek.com/ap/finan.../D97906R00.htm

Doomed.

What does that mean for the UK?

[suityou01]

http://www.businessweek.com/ap/finan.../D97906R00.htm

Doomed.

Edit : From Saturday

http://www.chinadaily.com.cn/china/2...nt_7625684.htm

[Old Greg]

Or I just kant spell coz I iz fick

I liked my explanation.

[ace00]

Actually we already have a World currency, it's called the Dollar ($).
Just China stirring it.

[suityou01]

Nice Freudian slip on 'gilts'!

Or I just kant spell coz I iz fick

[PM-Junkie]

Heard the auctioning of guilts has failed.

reality bomb ticking.

It's hardly surpising though, when the governor of the BOE basically says
"OI GORDON - STOPPPPPPP!! YOU DON'T KNOW WHAT YOU'RE DOING!!!!".

Not exactly likely to fill people with confidence is it?

[Old Greg]

Heard the auctioning of guilts has failed.

reality bomb ticking.

Nice Freudian slip on 'gilts'!

[AlfredJPruffock]

Heard the auctioning of guilts has failed.

reality bomb ticking.

No - you cannot ....don;t even think about it

[suityou01]

Heard the auctioning of guilts has failed.

reality bomb ticking.

[Lockhouse]

As Zeity will affirm. The currency of choice has to be the Quatloo....

[AlfredJPruffock]

Gordon Brown, prime minister of the United Kingdom and a fiscally minded leader, stated, “As some want, we could close our markets—for capital, financial services, trade and for labour—and therefore reduce the risks of globalization…But that would reduce global growth, deny us the benefits of global trade and confine millions to global poverty.”

“Or we could view the threats and challenges we face today as the difficult birth-pangs of a new global order—and our task now as nothing less than making the transition through a new internationalism to the benefits of an expanding global society—not muddling through as pessimists but making the necessary adjustment to a better future and setting the new rules for this new global order”


(BBC).