Posted on 03/16/2009 1:16:05 PM PDT by BGHater
Russia suggests the G20 summit in London in April should start establishing a system of managing the process of globalization and consider the possibility of creating a supra-national reserve currency or a “super-reserve currency.” The Russian Federation’s proposals for ways out of the ongoing financial and economic crisis and for a post-crisis order of the world financial system have been published on the Kremlin’s website. The proposals have been dispatched to the leadership of the G20 countries, the CIS and international organizations.
“The current global economic crisis points to the need for discarding standard approaches and requires the adoption of collective decisions, agreed at the international level and geared to creating a system of globalization process management,” the document says. Russia suggests “acting with the maximum resolution in order to restore sustainable economic development and also confidence and stability in the financial markets.”
The Russian side believes the summit should seek and achieve accord on the main parameters of a new world financial system. It suggests calling an international conference that would produce the basic parameters of a world financial architecture and adopt international conventions regarding a new financial world order.
Russia believes that the “obsolete mono-polar structure of the world economy should give way to a system based on cooperation by several major centers.”
In the sphere of control and supervision Russia suggests drafting and adopting an international agreement setting global standards of control and supervision in the financial sector – a Standard Universal Regulatory Framework (SURF).
Russia calls for reforming the international currency and financial system with the aim to strengthen its stability and control. In that connection the Russian side suggests discussing the possibility of expanding the list of currencies to be used as reserve ones, on the basis of the adoption of agreed measures to stimulate the development of major regional financial centers, and also “the creation of a supra-national reserve currency that will be issued by international financial institutions.”
“It looks expedient to reconsider the role of the IMF in that process and also to determine the possibility and need for taking measures that would allow for the SDRs (Special Drawing Rights) to become a super-reserve currency recognized by the world community,” the document says.
Also, Russia in the medium and long-term is for a revision of the role and mandate of the IMF in order to adjust both to a new structure of the world currency and financial system, whose modification is to be completed as a result of the current crisis.
For the purpose of overcoming the current crisis it will be necessary to considerably increase the resources of the IMF.
“The decisions we shall make at the London summit must be not only adequate to the current situation, but also meet the requirements of a new, post-crisis world,” the document says.
Russia to propose new reserve currency at G20
Russia: SURF and SDR to save world from global economic crisis
Standard Universal Regulatory Framework (SURF)
SURF=SURFdom??
These Globalist are funny.
Equality and Sameness for All
Only the black helicopter crowd thinks this will lead to a one-world economic system or a one-world government. Er...wait...
I just want to point out that we used to have one. It was shiny and kind of yellow.
This one will be made of paper.
There already is a supra-national reserve currency: gold
But the governments want something that they can make more of in “emergencies” and therefore cannot settle for a money whose production they cannot control.
I’ll bet BO will love it! SO instead of dollars we’ll have world currencies: Terras!Right!
(I dont trust the Russians anymore than when they were avowed commies!)
Tell Russia no thanks
You are just being a sour puss. I, for one, am looking forward to The Really Super Duper Reserve Currency that will be needed when the super-national reserve currency fails. I expect my horde of Zimbabwean Trillion Dollar Notes will be worth more than the super-national notes
I am sure all the bed-wetting Commies and Globalists are all elated over this....a one-world currency
And the Staged Moon Landing crowd always thought those who warned about such things were “tin foil hat wearing” nuts....
Most nations other than the US will be in favor of adopting a new reserve currency (even the US might reluctantly agree.) The problem will be agreeing on the replacement. That will not be easy. At all.
The likely outcome is that nothing will be done anytime soon. Eventually, gold might be chosen, precisely because of the political issues involved in choosing any other national currency as a world reserve currency, and the even worse political problems invoved in creating a new ultra-national currency for that purpose. The power obtained by any organization might be put in control of such a new currency would probably create irreconcilable differences between the current players.
Let’s see now...control “money”, control wealth, control production. Russia tried all that once before and gee, it worked our just sooooooooooo well!! Come to think of it, there were a lot of job opportunities created. Of course the openings were from the 30-40 million murdered by Stalin. But it still counts, huh Hussein??
It wont work, to many ways to get ripped off and/or cheat the system.
we will pass on the one world currency.
We are however willing to send Barney Fag over so Putin will have an ABBA dancing buddy.
Ron Paul is such a kook to think there is going to be a one world currency. What an old kook. We all know Obama and Bush would never sell us down the river.
We already have a one world currency. It’s called the US dollar. Any attempt to create a one world currency is nothing more than an attempt to get rid of the US dollar.
I prefer something along the lines of a non-monopoly capitalist international financial institution currency:
The Commies still want to rule the world....
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