Comments on: Supracurrency Coin Proposed as United World Reserve Currency

By: Market Risks and Economic Challenges That Lay Ahead in Second Half of 2010

Market Risks and Economic Challenges That Lay Ahead in Second Half of 2010 — Tue, 12 Jan 2010 09:31:59 +0000

[...] agree that, ultimately, it does not make sense for the USD to also act as the more or less official world reserve currency, it is clear that if this status were to come seriously into public question again, let alone [...]

By: U.S. Dollar Will Be Replaced As The World's Reserve Currency: UN

U.S. Dollar Will Be Replaced As The World's Reserve Currency: UN — Tue, 08 Sep 2009 04:04:47 +0000

[...] Currency is Accepted by UN (March 29, 2009) U.S. Dollar Up For Debate At G8 Meeting (July 5, 2009) Supracurrency Coin Proposed As New World Reserve Currency (July 12, [...]

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Fri, 04 Sep 2009 01:43:06 +0000

[...] for investment purposes or physical gold as insurance or a currency hedge (such as fears about the devaluation of the US dollar), you have a number of choices, each with their pros and cons. Those concerned about security, [...]

By: Top reason why we struggle in life | Tomasz Gorecki | Debt In Your 20's Is The Kiss of Death

Wed, 29 Jul 2009 12:42:31 +0000

[...] World reserve currency [...]

By: China Pushes More Diversification In Foreign Exchange Reserves As Part of “Going Out” Strategy | MoneyEnergy

Wed, 29 Jul 2009 11:01:15 +0000

[...] Supracurrency Coin Proposed As United World Reserve Currency (July 12, 2009) Zhou Xiaochuan’s Proposal For World Reserve Currency is Accepted by UN (March 29, 2009) US Dollar Reserve Status Up For Debate Ahead of G8 (July 5, 2009) [...]

By: What Is the World Reserve Currency? | MoneyEnergy

What Is the World Reserve Currency? | MoneyEnergy — Tue, 14 Jul 2009 11:01:45 +0000

[...] proposed, from using the Euro to using SDRs (special drawing rights) to a completely new “united world reserve currency.” Time will tell what happens. As of July 2009, leaders seem to want to focus on [...]

By: MoneyEnergy

MoneyEnergy — Sun, 12 Jul 2009 16:57:50 +0000

@TAM – well remember, that we already have a world reserve currency. The idea of a world reserve currency in itself is not anything new. It’s the U.S. dollar, so right now the U.S. dollar is effectively acting as the “supracurrency” – which may be why Americans don’t notice this effect.

@ERE – good point, I am not sure why oil has to be traded in dollars except for the tautological reason that the U.S. dollar is the world reserve currency. Yes, there was speculation that officials were concerned about proposals to trade oil in something other than the dollar – Google “Iranian oil bourse” for example – as I understand it, oil is one of the main uses of having a world reserve currency. So no matter what “currency” is used, it’s mostly going towards buying/selling/hedging oil. If anyone knows more/better, please do correct me.

By: Early Retirement Extreme

Early Retirement Extreme — Sun, 12 Jul 2009 16:14:06 +0000

What I do not understand is why countries hold, if not exclusively, then predominantly USD. Could they simply not just hold a diversified basket of currencies reflecting what they BUY from their trading partners, since presumably that is the point of holding foreign currency reserves—to buy something in other countries.

As I see it, other countries are pissed that their central banks have been soaking up USD to increase US buying power in their countries and they do not want to pay the price in terms of local manufacturing/export pain of reversing this [stupid] policy.

Also, where does it say that oil has to be sold in exchange for dollars? Is that international law or something? I know this is a point of content with some saying that one of the reasons for the Iraq invasion was that Saddam wanted to start selling oil denominated in Euro.

By: Matthew Legge

Matthew Legge — Sun, 12 Jul 2009 15:59:09 +0000

Damn new world currency, Damn the new world order, damn socialism, damn all those who support it.

By: The Almost Millionaire

The Almost Millionaire — Sun, 12 Jul 2009 13:11:15 +0000

It is hard to believe that we are so close to a world currency. I need time to digest the idea, but off the cuff it seems like it would offer stability in commerce which is good for business and economic growth. Might level the playing field a little bit.