Russian President Dmitry Medvedev called for a widening of the reserve currency basket and repeated Russia’s interest in a new global reserve currency, during an interview aired by the BBC on Sunday.
Russia has already proposed the creation of the new currency, to be issued by international financial institutions, according to the text of its proposal to the April G20 meeting published on March 16.
China this week caused a stir ahead of the G20 when it suggested the world move towards greater use of the International Monetary Fund’s Special Drawing Rights, created by the Fund in 1969 as an international reserve asset.
“You know, I have just discussed this issue with Gordon Brown and other partners. Of course, we are realistic, and I hope that my position is realistic, as well as that of our Chinese colleagues,” Medvedev told the BBC, referring to the Prime Minister.
“But it is quite obvious that the existing currency system has not coped with the existing challenges. We were lucky to have a set of currencies: dollar, euro, and a pound. But in the future this system should be based upon a multi-currency basket, it should also include other regional reserve currencies.”
“If we manage to agree on that, in the future we could talk about creating a kind of a super currency,” Medvedev said.
Other G20 leaders have made clear that for now the dollar’s status as the dominant reserve unit remains.
March 30th, 2009 at 8:46 am
Is this new currency to be gold does anyone know ?
Chuck Reply:
March 30th, 2009 at 9:26 am
Gold? Guess how many countries have a Gold standard? Zero. The whole world is fiat. I wonder why Jones and Paul don’t mention that fact?
With their inflammatory language and challenging of the ruling class they are going to get a lot of people in trouble. Does anyone know the story of Spartacus? Yea, well the Romans lined a road with 6,600 crucified followers of Spartacus after defeating him.
Also, remember what Jefferson said about defeating a banker? Something to the effect of “If you were to ever stop the bankers, with the stroke of a pen they’d create enough money to buy the world back again.”
Don’t be a fool. Freedom comes from within your own mind, not fighting your fellow man.
JustG Reply:
March 30th, 2009 at 10:36 am
Funny how you criticize (fear monger) while using false talking points. The quote says, if you let them retain the power to make money… Big difference.
Fact is, you don’t need money based on gold. You simply need to put the power to create money back where it belongs.
March 30th, 2009 at 8:55 am
No it is blood. are you ready to share?
March 30th, 2009 at 9:35 am
So basically what Medvedev is saying, is that they need to set up regional currency’s first, like the amero, before they can actually reach their ultimate goal which is a world currency.
They can’t force feed a world currency down everyone’s throat, without first progressively installing several regional currency’s.
If Russia really opposes western policies, why do they want to establish a world government?
Maybe they are one in the same!
March 30th, 2009 at 9:49 am
I wonder if he was blackmailed into blabbing about nwo currency
March 30th, 2009 at 12:47 pm
There is only one world currency, and it arises without government intervention, and cannot be manipulated by government (except in the short term), that is why they try to suppress God’s own money with their fake paper money and promises. It is called Gold, and it provides the blessings of liberty.
British Legal Tender Gold as lawful rebellion to fiat currency: http://www.campaignforliberty......view=14686
March 30th, 2009 at 2:23 pm
I think once the real trouble begins (real martial law, biochemical “terrorist” attacks, etc.) simple BARTER will most likely take the place of our current fiat disaster. Gold is an excellent hedge for currency devaluation, but I don’t think it will retain the type of value forecasted should catastrophic events occur. Look for non perishable food, potable water, tools, etc. to be of value when these events occur.
March 30th, 2009 at 4:04 pm
“But it is quite obvious that the existing currency system has not coped with the existing challenges.”
That’s what you call this? A currency system?
The central bankers get to print money and lend it to the people, businesses and governments…without producing anything at all of worth.
Meanwhile the currency traders shuffle this pretend paper back and forth and make billions for themselves…while producing exactly zero worth anything in real terms.
Currencies are supposed to be units of measurement for commercial value!
These degenerate scam artists embezzle the standard of living right out from under the working people of the world and you want to call it a currency system?
Don’t fight the system:
Replace it
http://socialviability.com/
April 8th, 2009 at 9:15 pm
The topic is quite hot in the net at the moment. What do you pay the most attention to while choosing what to write ?