[P2P-F] Fwd: Article - What Currency for the World?

[Michel Bauwens]

---------- Forwarded message ----------
From: Dante-Gabryell Monson <dante.monson at gmail.com>
Date: Fri, Apr 22, 2011 at 4:34 PM
Subject: Article - What Currency for the World?
To: opencc at googlegroups.com, econowmix at googlegroups.com


found via Matt, via
http://www.facebook.com/pages/Community-Currency-Magazine/199052876795121

What Currency for the World?


http://bigthink.com/ideas/37964

large excerpt :

"The US dollar's share of global foreign exchange transactions has fallen
from nearly 90 percent a decade ago to around 80 percent today, while its
share of foreign exchange reserves has fallen from over 70 percent to under
60 percent today. Meanwhile, despite its present economic difficulties, the
Euro has steadily gained since its inception in 1999, and the Chinese
renminbi (RMB) is expected to climb as the currency moves towards a floating
exchange rate and convertibility in the coming years.

The consensus among the roundtable participants was that neither the Euro
nor any other currency will prove to be an alternative to the dollar, rather
there will be several leading and co-existing currencies in a global reserve
basket. The IMF recently published a
paper<http://www.imf.org/external/np/pp/eng/2011/010711.pdf> arguing
that its Special Drawing Rights (SDRs) could serve as a global reserve
currency and thus enhance global financial stability. " ...

http://en.wikipedia.org/wiki/Special_Drawing_Rights

The *Special Drawing Right* (*SDR*) is a
monetary<http://en.wikipedia.org/wiki/Money>
 unit of international reserve assets defined and maintained by the
International
Monetary Fund <http://en.wikipedia.org/wiki/International_Monetary_Fund> (IMF).
The unit does not represent a currency, but represents a potential claim on
the currencies of the IMF members for which it may be exchanged.



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