Medvedev shows off sample coin of New World Currency at G8

[Holly_Hobby]

By Lyubov Pronina

July 10 (Bloomberg) -- Russian President Dmitry Medvedev illustrated his call for a supranational currency to replace the dollar by pulling from his pocket a sample coin of a “united future world currency.”

“Here it is,” Medvedev told reporters today in L’Aquila, Italy, after a summit of the Group of Eight nations. “You can see it and touch it.”

The coin, which bears the words “unity in diversity,” was minted in Belgium and presented to the heads of G-8 delegations, Medvedev said. The question of a supranational currency “concerns everyone now, even the mints,” Medvedev said. The test coin “means they’re getting ready. I think it’s a good sign that we understand how interdependent we are.”

Medvedev has repeatedly called for creating a mix of regional reserve currencies as part of the drive to address the global financial crisis, while questioning the U.S. dollar’s future as a global reserve currency. Russia’s proposals for the G-20 meeting in London in April included the creation of a supranational currency.

...

http://www.bloomberg.com/apps/news?pid=20601087&sid=aeFVNYQpByU4

Picture of new coin:

http://pics.livejournal.com/a_kolesnichenko/pic/00021ace/s640x480

[NightWatcher]

1. mark of the beast, mark of the beast. I think I see the antichrist in the ....

eh, kinda kewl, and will prob hold its value better than the dollar

[shadowknows69]

25. That's what I don't get about the extreme fundies

Because when I was one this is the kind of shit they told us to look out for. But the G8 isn't the mythical New World Order, can't be, because we're in it and everyone knows Gawd loves us.

[LostInAnomie]

2. I doubt it that for many reasons...

... but mostly because that coin would be amazingly easy to counterfeit.

[Rick Myers]

7. That's what I think...

A coin would be easy to copy. Do we let EVERY nation mint coins? How are they controlled?

[Swede Atlanta]

15. The EU is dealing with this issue right now.

The paper currency is uniform across the community because if you had nationally produced paper you would end up with more Finnish Euros in Spain than Spanish Euros in Finland. But coins tend to be used more locally and the coins contain one common side and one national side.

[Sebastian Doyle]

20. Which is how it will become the mark of the beast

First step: global currency.

Second Step: when currency proves too easy to counterfeit, you go cashless and everybody carries plastic.

Third Step: But cards, purses, and wallets can be stolen. And gee there's all that identity theft going on too... what if we just put all that stuff on a little RFID chip and shot it into your arm?

:evilgrin: MISSION 666 ACCOMPLISHED :evilgrin:

[woodsprite]

3. I have $40 in my pocket right now and my pants are staying up fine.

I doubt that would be the case with 40 of those in my pocket. Dollar coins didn't go over very well in public last time either.

[HeresyLives]

5. Canada has dollar coins,

and $2 coins.

Nobody is running around with their pants down. :rofl:

[TheMightyFavog]

26. Reminds me of a story of when I was in London inrening for AP Radio...

I got called to interview office workers displaced by that failed car bombing near Picadilly Circus a couple years back. I didn't have any cash on me, so I stopped off at the ATM next to the nearest Tube station. ATMs in London only dispense in 20 pound notes, so I took out 20, and went to buy a travelcard. I used one of the automatic ticket machines because there was a line at the manned window where I usually get my travelcards. When I bought my ticket, I learned the hard way that those machines only give change in coins. I was running around London that day with 18 pounds, 50p in my pocket. It might has well have been 18 1/2 lbs in my pocket. I was lucky my belt was up to the task.

[Rhythm]

4. zOMG!!1!!1!!!My pastor wuz right!!! One-World Government!!!!! The Beast!@!!!!!!

*listens for the sound of fundies heads exploding all over the country*

[armyowalgreens]

6. OH MY GOD! ITS THE FUCKING NEW WORLD ORDER!!!!!

MOTHAFUCKAS RUN FOR YOUR LIVES!!!

[Holly_Hobby]

21. LOL, can I steal that pic? n/t

[Pyrzqxgl]

8. One World, Born of all Nations

One World, Sovereign & Free
One World Free Of Oppression
One World for you & For Me

Song from the 1940 Wilke campaign (Republicans don't like to talk about Wilke
and their brief affair with One Worldism.

[imdjh]

9. Utterly worthless unless it's made of precious metal. nt

[anigbrowl]

14. 'precious' metal is utterly worthless too

it's only precious because we make a virtue of scarcity.

[imdjh]

18. I agree, but so far the world seems to think gold and silver are valuable enough to use.

I personally don't get gold and diamonds. For exactly the reason you stated, they have no inherent value. In fact, as I understand it diamonds wouldn't be worth much more than cubic-z if the Russians and South Africans were to dump their stash. As I recall , one of the concerns about ending apartheid was that the new government of SA would have to dump gold and diamonds to support itself as the white business people packed up and got out of Dodge. I guess that didn't happen, but the same thing was said about the Russians. The Soviets supposedly had the world's largest reserves of gold and precious crap holed away, but I guess that was a myth.

[anigbrowl]

19. indeed, it's purely a social construct

but if enough governments signed onto this currency (wildly unlikely, but suppose) and it was accepted in enough places, then it would have value from that, the implied promise of the governments that you could use it as a medium of exchange for whatever other things you want. Nowadays the symbol stamped on the coin is what people trust, not the metal it's made from.

I know it seems arbitrary but the fact is some kind of neutral medium of exchange is practical, otherwise you're back to trying to barter your goats in exchange some one else's cotton and a third guy's wheat, and if neither of them are in the market for your goats then you've got to got to find someone else is and yadda yadda. Barter is a major pain in the ass most of the time.

[eppur_se_muova]

22. Precious metals are now too valuable for coins.

Even copper is too expensive for cents (pennies), and they are now made of zinc -- which costs nearly two cents for every one cent coin.

Canada, the world's largest producer of nickel, now makes "nickels" containing ~95% steel.

http://en.wikipedia.org/wiki/Nickel_(Canadian_coin)#History_of_composition_.5B1.5D

[imdjh]

27. That's why coins are more valuable than paper in a failed economy

If you don't use precious metals for coins, then coins aren't worth anything either. The reason precious metal coins are the preferred currency, is because governments can't make worthless gold and silver, there is an objective standard for the value of the coin of the realm.

[rcrush]

10. I bet the republicans are rolling around naked in them at Bohemian Grove right now

They have something to offer up to their Owl God now.

[ayeshahaqqiqa]

11. About time

Of course, only time will tell if it is adopted. But would English be the language on all of them? Why not Latin or Esperanto or some international symbols to get the meaning across. Or will the coins be minted in different languages?

[C_U_L8R]

12. Now he's done it !

The apocalyptards are gonna go absolutely bananas.
Should be quite hilarious.

[anigbrowl]

13. gotta hand it to the Russians, they know how to do political theater

For a small amount of real money to pay the artist and make up some molds, he's probably got 10,000 headlines in the coming weeks. Sneaky, passive-aggressive, but 100x more effective than any speech or white paper.

[IDemo]

16. I think the new world currency was already revealed this week

[eppur_se_muova]

23. DINGDINGDINGDINGDINGDINGWe have a WINNAH!! nt

[readmoreoften]

17. That coin was part of an art product. It's not real. /nt

[Holly_Hobby]

24. Here's the official website:

http://www.futureworldcurrency.com/Documents.asp?DocumentAreaID=47

"The new currency of the future presented to G8 leaders"

http://www.futureworldcurrency.com/Documents.asp?DocumentAreaID=47&DocumentID=204