2 June 2009
Russian President again pushes for global currency
Posted by Joy Bischoff under: Constitution in Peril; What's News .
An international currency would consolidate power into the hands of a few. Absolute powers corrupts absolutely so this is not something I feel good about. Those calling for international political rule are not proposing anything regarding representation of the people because their arrogance makes them believe they will do a better job of decision making than the citizens of the world. Russian President Medvedev, who is pushing this, is a puppet of a very dangerous globalist, Vladamir Putin.
Dollar Declines as Nations Mull Reserve Currency Alternatives
By Oliver Biggadike and Chris Fournier
June 2 (Bloomberg) — The dollar weakened beyond $1.43 against the euro for the first time in 2009 on bets record U.S. borrowing will undermine the greenback, prompting nations to consider alternatives to the world’s main reserve currency.
The 16-nation euro gained for a fourth day versus the dollar as the Russian government said emerging-market leaders may discuss the idea of a supranational currency. The pound rose to the highest level since October and the Canadian dollar traded near an eight-month high on speculation signs of a recovery in U.S. and U.K. housing will spur higher-yield demand.
“There’s been a lot of talk out of Russia about a new global currency, and that’s contributing toward this latest bout of dollar weakness,” said Henrik Gullberg, a currency strategist at Deutsche Bank AG in London. “These latest comments are just adding to the general dollar weakness we’ve seen recently.”. . .
Russian Proposal
Russian President Dmitry Medvedev may discuss his proposal to create a new world currency when he meets counterparts from Brazil, India and China this month, Natalya Timakova, a spokeswoman for the president, told reporters by phone today. Medvedev first proposed seeking alternatives to the U.S. dollar as a reserve currency in March.
Regional reserve currencies are an “unavoidable” part of “regionalizing” the global financial system, Deputy Finance Minister Dmitry Pankin said in Moscow today.
The Dollar Index, which ICE uses to track the currency’s performance against the euro, yen, pound, Canadian dollar, Swedish krona and Swiss franc, fell as much as 1 percent to 78.39, the lowest level since Dec. 18.
“The market is looking for the opportunity to sell the U.S. dollar,” said Jack Spitz, a managing director for foreign exchange at National Bank of Canada in Toronto. “It took decades for the euro to be established. I can only imagine how long it would take for the BRIC countries to put together a currency.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=a3X76sjV801Y&refer=worldwide
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???????.Net » Blog Archive » Posts about Putin as of 03/06/2009 Says:
3 June 2009 at 2:12 am.
[...] automaker’s first plant in Russia on Tuesday. Located at St. Petersburg, Nissan’s new Russian President again pushes for global currency – ingodwetrustblog.com 06/02/2009 An international currency would consolidate power into the hands [...]
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