A new world currency?

Wow, the russians again.

http://www.telegraph.co.uk/finance/c...is-pocket.html

I think we'd not hear the W.C talk from the other source highlighted in previous months.

the plan to talk about W.C in G8 this week has caused loss of hundred of innocent lives and thousands wounded in a co-incident...

some well paid and armed terrorists show up overnight last sunday and began slaughter innocent citizens which forced pres. hu to exit G8 this week....

so co-incident that C-yuan plan to try experiment as south-east asia regional trade currency starting monday this same week.

we feel awesome to the influence of a dominant source of money symbol... I see no reason push a printer to stop running... at the cost of more innocent lives

let's just buy gold as much as we can.
see if they can play against the law of gravity by threatening Newton.

I would love to see Gold as the worlds currency, again.
But I'm dreaming as it will never happen. Useless paper will continue to be the end-all to the world's currencies.

although gold backed currency is an ok thing, it puts limits on the amount of prosperity a country can accrue...since there's a limit to gold.

A better way is kinda how we have it now, except the reserve's one and only responsibility should be to keeping the dollar steady and inflation down. Currently they have so many responsibilities and so much power that they can do whatever they want.

That's why we have to battle with inflation and such, they keep printing money. A non gold-backed currency wouldn't be a problem if we had a sensible finance policy.

The world currency has been predicted by the web bot project. This will lead to Americas destruction according to the web bot guys.

Won't this mean the end of Forex trading, if there's no other currencies to trade against or is this meant to be a reserve currency, supplanting the de-facto role of the USD? So in effect will we be able to trade WCUSD, WCEUR for example as well as the current EURUSD, USDJPY etc.

read up on the gold standard, it was a failure in the end.

Gold-Backed currency is not that practical (although Fiat money is also not really practical).

With gold-backed currency there will be deflation due to scarcity of gold, which is not really good for economy.

The only better alternative currency would be Energy-backed currency, since most of the current world economic activity is energy-related.

Gold-backed currency usually issued by bank
Fiat money usually issued by government
Energy-backed currency can be issued by utility company

With a 1Kilowatthour note, the issuer promise to give 1kilowatthour worth of energy. (just like gold-backed means issuer, the bank, promises to give how much gold)

Since energy can be created from natural resources as well(Solar, wind, hydro etc), utility company will be motivated to develop more recyclable energy, thus it is also good for the community. (as supposed to current situation, where people fight and even war for oil)

Also, since energy can be get from natural resources, there's no scarcity like gold-backed currency does, thus inflation/deflation will less likely to happen.