Thursday, March 12, 2009

Idea of Single World Currency Taking Hold

Curt Here...

According to the article below KAZAKH President Nursultan Nazarbayev has received backing for his plan for a one world currency from a very interesting person. He has received this backing from Nobel-prize winner Professor Robert Mundell. Who is Robert Mundell you say? He is none other than the man that laid the groundwork for Europe's single currency the Euro.

Mr. Mundell when asked about his backing took it a step further by recommending that the Group of 20 leading developed and developing economies needed to form a working group on the one world currency proposal at their summit on the global economic crisis in London on April 2.

The economic summit planned for April 2nd in London is turning into quite the event. It may also turn out to have some very serious prophetic implications. I suspect between now and April 2nd the rumble towards a one world government will get louder.

Stay Tuned.



Nobel-prize winner backs world currency

KAZAKH President Nursultan Nazarbayev has won backing for his plan for a single world currency from an intellectual architect of the euro currency, Nobel-prize winner Professor Robert Mundell.

Nazarbayev, speaking at an economic forum in the glitzy new capital he has built on the Kazakh steppe, defended his proposal for the "acmetal'' world currency saying it might "look kind of funny'' but was not.

And he received intellectual support from the Canadian economist Prof Mundell, who helped lay the intellectual groundwork for Europe's single currency.

"I must say that I agree with President Nazarbayev on his statement and many of the things he said in his plan, the project he made for the world currency, and I believe I'm right on track with what he's saying,'' Prof Mundell said, adding the idea held "great promise''.

Mr Nazarbayev and Prof Mundell urged the Group of 20 leading developed and developing economies to form a working group on the proposal at their summit on the global economic crisis in London on April 2.

"We should deliver our thoughts and the thoughts of this conference to the leaders of those countries,'' Mr Nazarbayev said, referring to the G8 and G20 nations.

Mr Nazarbayev, who has held his post since Soviet times and has seen his oil-rich state hit badly by the crisis, unveiled his proposal last month and said yesterday the UN should oversee the currency's introduction.

Though a boost for what might seem an other-worldly plan, Prof Mundell has previously suggested single currencies are only appropriate for countries with similar economies.

Mr Nazarbayev's coining of "acmetal'' combines the Greek word "acme,'' meaning peak or best, and "capital.'',25197,25173126-12377,00.html

1 comment:

the70thweek said...

Russia welcomes Kazakh proposal for electronic single currency
15:51 | 14/ 03/ 2009

MOSCOW, March 14 (RIA Novosti) - The Kazakh president's idea for a unified currency for payments between states in the Eurasian Economic Community will be examined and could go forward, Russia's foreign minister said on Saturday.

President Nursultan Nazarbayev's suggestion would not mean replacing national currencies with an equivalent of the euro, but would create a non-cash currency for interstate transactions within the grouping of Russia, Belarus, Kazakhstan, Tajikistan and Kyrgyzstan.

Nazarbayev suggested calling the electronic currency the "euras" or the "eurasia."

"I think that objective consideration of the proposal of Kazakhstan will take place within the limits of EurAsEC. This idea, certainly, will receive development," Sergei Lavrov said at a news conference after a meeting with his Kazakh counterpart, Marat Tazhin.

The foreign ministers had discussed bilateral cooperation on international and regional issues.

"We value this chance to discuss bilateral interaction in international and regional affairs, including Kazakhstan's forthcoming chairmanship of the OSCE," Lavrov said.

Kazakhstan will be the 2010 chair of the Organization for Security and Cooperation in Europe, taking over from Greece.

Tazhin said that in spite of the current global and region economic turmoil, Russian-Kazakh collaboration on trade and financial issues was developing.