<br><br><div class="gmail_quote">---------- Forwarded message ----------<br>From: <b class="gmail_sendername">Dante-Gabryell Monson</b> <span dir="ltr"><<a href="mailto:dante.monson@gmail.com">dante.monson@gmail.com</a>></span><br>
Date: Fri, Apr 22, 2011 at 4:34 PM<br>Subject: Article - What Currency for the World?<br>To: <a href="mailto:opencc@googlegroups.com">opencc@googlegroups.com</a>, <a href="mailto:econowmix@googlegroups.com">econowmix@googlegroups.com</a><br>
<br><br>found via Matt, via <div><a href="http://www.facebook.com/pages/Community-Currency-Magazine/199052876795121" target="_blank">http://www.facebook.com/pages/Community-Currency-Magazine/199052876795121</a><br>
<div><br></div><div><h2 style="padding: 0px; margin: 3px 0px; font-family: Verdana,Helvetica,Arial,sans-serif; font-weight: normal; font-size: 26px; line-height: normal; letter-spacing: -1px;">
What Currency for the World?</h2><div style="font-family: Verdana,Helvetica,Arial,sans-serif; font-size: 12px;"><br></div><div style="font-family: Verdana,Helvetica,Arial,sans-serif; font-size: 12px;"><span style="color: rgb(0, 0, 238); font-family: arial; font-size: small;"><br>
<a href="http://bigthink.com/ideas/37964" target="_blank">http://bigthink.com/ideas/37964</a></span></div><div style="font-family: Verdana,Helvetica,Arial,sans-serif; font-size: 12px;"><span style="color: rgb(0, 0, 238); font-family: arial; font-size: small;"><br>
</span></div><div style="font-family: Verdana,Helvetica,Arial,sans-serif; font-size: 12px;">large excerpt :</div><div style="font-family: Verdana,Helvetica,Arial,sans-serif; font-size: 12px;"><span style="line-height: 18px;"><p style="margin: 0.75em 0px; line-height: 1.5em;">
"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.</p>
<p style="margin: 0.75em 0px; line-height: 1.5em;">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 <a href="http://www.imf.org/external/np/pp/eng/2011/010711.pdf" style="color: rgb(169, 41, 0); border-bottom: 1px dotted rgb(170, 170, 170); text-decoration: none;" target="_blank">paper</a> arguing that its Special Drawing Rights (SDRs) could serve as a global reserve currency and thus enhance global financial stability. " ...</p>
</span></div></div><div><br></div><div><a href="http://en.wikipedia.org/wiki/Special_Drawing_Rights" target="_blank">http://en.wikipedia.org/wiki/Special_Drawing_Rights</a></div>
<div><br></div><div><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;">The</span><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;"> </span><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;"><b>Special Drawing Right</b></span><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;"> </span><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;">(</span><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;"><b>SDR</b></span><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;">) is a</span><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;"> </span><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;"><a href="http://en.wikipedia.org/wiki/Money" title="Money" style="text-decoration: none; color: rgb(6, 69, 173);" target="_blank">monetary</a></span><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;"> </span><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;">unit of international reserve assets defined and maintained by the</span><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;"> </span><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;"><a href="http://en.wikipedia.org/wiki/International_Monetary_Fund" style="text-decoration: none; color: rgb(6, 69, 173);" target="_blank">International Monetary Fund</a></span><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;"> </span><span style="font-size: 13px; line-height: 19px; font-family: sans-serif;">(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.</span></div>
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