# Single World Currency



## Ethan 1 (4 Jul 2009)

Could a single World Currency be on the cards ?

http://www.bloomberg.com/apps/news?pid=20601087&sid=aR7yfqUwTb4M


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## Chris (6 Jul 2009)

What they are looking for is a new RESERVE currency, NOT a single currency. China, Russia and India have very large amounts of US$ in reserve, and the US$ volatility along with spiralling US debt is causing them a lot of worries.
The problem is that if they start switching to another 'new' currency, gold, pork bellies or anything else as a reserve, they will devalue the US$ and thereby their US$ holdings. It's a bit of a catch 22 situation.


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## Purple (8 Jul 2009)

The currency in which oil and gas are traded will always be the world reserve currency. Only two countries have talked about trading in anything other than US$, Iraq and Venezuela. One was invaded, the other had an attempted coup... the Americans aren’t big on the idea.


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