The REAL money, the ULTIMATE currency....
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The currency that we have is not REAL money. It's just a piece of printed paper (of plastic in this case) representing a value stored somewhere. REAL money has the following properties: - gains value over time, over recession - easily liquidable - recognised worldwide for its value - rare, limited supply in this world - cannot be manufactured/printed more when demand increases - will never have ZERO value - easily carried/stored - is never used up/destroyed, merely transform from 1 form to another. - therefore, it is permanent Only 1 thing in this world satisfied ALL the above criteria. *Hint: this thing can be found in the chemistry periodic table. I'll reveal the answer later...... ;) (I think, some ppl already know what I'm talking about!)
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china will dominate if world currency really ever come out
mark my words
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---------youyayu------------ china will dominate if world currency really ever come out mark my words ----------------------------- recently, I read that China is intending to store more of the REAL money!
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There is already an unspoken "world currency" out there.... it's the REAL money I'm talking about! ;)
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The price of platinum, like other industrial commodities, is more volatile than gold. In 2008 the price of platinum ranged from $774 to $2,252 per oz.[28]
During periods of sustained economic stability and growth, the price of platinum tends to be as much as twice the price of gold, whereas during periods of economic uncertainty[29], the price of platinum tends to decrease due to reduced industrial demand, falling below the price of gold. Gold prices are more stable in slow economic times, as gold is considered a safe haven and gold demand is not driven by industrial uses.
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The idea, if it is that great, would not have been abandoned..... it was abandoned because it was not "flexible" enough.
Fiat world reserve currency is flexible but if you are the one controlling it, you have great advantages and if you are not, you talk about using a "fixed" currency.
Back to square one. Been there done that.
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Originally posted by cyberr1981:
The currency that we have is not REAL money. It’s just a piece of printed paper (of plastic in this case) representing a value stored somewhere.
REAL money has the following properties:
- gains value over time, over recession
- easily liquidable
- recognised worldwide for its value
- rare, limited supply in this world
- cannot be manufactured/printed more when demand increases
- will never have ZERO value
- easily carried/stored
- is never used up/destroyed, merely transform from 1 form to another.
- therefore, it is permanentOnly 1 thing in this world satisfied ALL the above criteria. *Hint: this thing can be found in the chemistry periodic table.
I’ll reveal the answer later…...
(I think,
some ppl already know what I’m talking about!)GOLD or SILVER?
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china sure win 1 la
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Lately, there have been talks of a intention of a new currency to replace the US dollar since it has inccurred a large amount of debts.
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Originally posted by cyberr1981:
The currency that we have is not REAL money. It’s just a piece of printed paper (of plastic in this case) representing a value stored somewhere.
REAL money has the following properties:
- gains value over time, over recession
- easily liquidable
- recognised worldwide for its value
- rare, limited supply in this world
- cannot be manufactured/printed more when demand increases
- will never have ZERO value
- easily carried/stored
- is never used up/destroyed, merely transform from 1 form to another.
- therefore, it is permanentOnly 1 thing in this world satisfied ALL the above criteria. *Hint: this thing can be found in the chemistry periodic table.
I’ll reveal the answer later…...
(I think, some ppl already know what I’m talking about!)
It's not money, it's just a credit note. Go read the top part of the US dollar.
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Originally posted by TooFree:
Lately, there have been talks of a intention of a new currency to replace the US dollar since it has inccurred a large amount of debts.
i strongly suspect it was the Sing Dollar, because sing tried to buy banks rite. Singapore had truly world ambitions!
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The G20 moves the world a step closer to a global currency
A single clause in Point 19 of the communiqué issued by the G20 leaders amounts to revolution in the global financial order.
"We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity," it said. SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for half a century.
In effect, the G20 leaders have activated the IMF's power to create money and begin global "quantitative easing"...
http://www.globalresearch.ca/index.php?context=va&aid=13045
The official communique issued at the close of the G20 London Summit:
19. We have agreed to support a general SDR allocation which will inject $250 billion into the world economy and increase global liquidity, and urgent ratification of the Fourth Amendment.
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Special consideration should be given to giving the SDR a greater role. The SDR has the features and potential to act as a super-sovereign reserve currency. Moreover, an increase in SDR allocation would help the Fund address its resources problem and the difficulties in the voice and representation reform. Therefore, efforts should be made to push forward a SDR allocation. This will require political cooperation among member countries. Specifically, the Fourth Amendment to the Articles of Agreement and relevant resolution on SDR allocation proposed in 1997 should be approved as soon as possible so that members joined the Fund after 1981 could also share the benefits of the SDR. On the basis of this, considerations could be given to further increase SDR allocation...
http://www.pbc.gov.cn/english/detail.asp?col=6500&id=178
The dollar debt paradox
What soon became clear to US Treasury and Federal Reserve circles after 1971, was that they could exert more global influence via debt, US Treasury debt, than they ever did by running trade surpluses. One man's debt is the other's credit. Because all key commodities, above all, oil, were traded globally in dollars, demand for dollars would continue, even if the US created more dollars than its own economy justified.
Soon, its trade partners held so many dollars that they feared to create a dollar crisis. Instead, they systematically inflated, and actually weakened their own economies to support the Dollar System, fearing a global collapse. The first shock came with the 1973 increase in oil by 400%. Germany, Japan and the world was devastated, unemployment soared. The dollar gained.
This Dollar System is the real source of a global inflation which we have witnessed in Europe and worldwide since 1971. In the years between 1945 and 1965, total supply of dollars grew a total of only some 55%. Those were the golden years of low inflation and stable growth. After Nixon's break with gold, dollars expanded by more than 2,000% between 1970 and 2001!
The dollar is still the only global reserve currency. This means other central banks must hold dollars as reserve to guarantee against currency crises, to back their export trade, to finance oil imports and such. Today, some 67% of all central bank reserves are dollars. Gold is but a tiny share now, and Euros only about 15%. Until creation of the Euro, there was not even a theoretical rival to the dollar reserve currency role.
What is little understood, is how the role of US trade deficits and the Dollar System are connected. The United States has followed a deliberate policy of trade deficits and budget deficits for most of the past two decades, so-called benign neglect, in effect, to lock the rest of the world into dependence on a US money system. So long as the world accepts US dollars as money value, the US enjoys unique advantage as the sole printer of those dollars. The trick is to get the world to accept. The history of the past 30 years is about how this was done, using WTO, IMF, World Bank and George Soros to name a few.
What has evolved is a mechanism more effective than any the British Empire had with India and its colonies under the Gold Standard. So long as the US is the sole military superpower, the world will continue to accept inflated US dollars as payment for its goods. Developing countries like Argentina or Congo or Zambia are forced to get dollars to get the IMF seal of approval. Industrial trading nations are forced to earn dollars to defend their own currencies. The total effect of US financial and political and trade policy has been to maintain the unique role of the dollar in the world economy. It is no accident that the greatest financial center in the world is New York. It's the core of the global Dollar System.
It works so: A German company, say BMW, gets dollars for its car sales in the USA. It turns the dollars over to the Bundesbank or ECB in exchange for Marks or Euros it can use.
The German central bank thus builds up its dollar currency reserves. Since the oil shocks of the 1970's, the need to have dollars to import oil became national security policy for most countries, Germany included. Boosting dollar exports was a national goal. But since the Bundesbank no longer could get gold for their dollars, the issue became what to do with the mountain of dollars their trade earned. They decided to at least earn an interest rate by buying safe, secure US Treasury bonds. So long as the US had a large Budget deficit, there were plenty of bonds to buy.
Today, most foreign central banks hold US Treasury bonds or similar US government assets as their "currency reserves." They in fact hold an estimated $1 trillion to $1.5 trillion of US Government debt. Here is the devil of the system. In effect, the US economy is addicted to foreign borrowing, like a drug addict. It is able to enjoy a far higher living standard than were it to have to use its own savings to finance its consumption. America lives off the borrowed money of the rest of the world in the Dollar System. In effect, the German workers at BMW build the cars and give it away to Americans for free, when the central bank uses the dollars to buy US bonds.
Today, the US trade deficit runs at an unbelievable $500 billion, and the dollar does not collapse. Why? In May and June alone, the Bank of China and Bank of Japan bought $100 billion of US Treasury and other government debt! Even when the value of those bonds was falling. They did it to save their exports by manipulating the Yen to dollar to prevent a rising yen.
Because the world payments system, and most importantly, the world capital markets---stocks, bonds, derivatives—are dollar markets, the dollar overwhelms all others. The European Central Bank could offer an alternative. So far it does not. It only reacts to a dollar world. German banks destroy the German economy as they rush to imitate US banks. The Dollar System is destroying the German industrial base. German national economic policy as well as Bundesbank and now ECB policy is oriented on the far smaller export sector, to maximize trade surplus dollars, or to the big banks, to attract as many dollars as possible...
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But here the perplexity.
If the G20 starts to create another global currency to replace the dollar, what's there in Uncle Sam's pocket to pull out the trillions for countries like China, Japan etc to convert their lots, from the Dollar to the new currency?
But this the irony, isn't it? -
a global currency would also stabilize international business. Manufacturers on both sides of the Atlantic, for example, would no longer have to adjust to huge changes, such as the slide in the value of the euro from $1.17 initially in 1999 to 83 cents two years ago then back up to about $1.22. The value of stocks and other assets in countries now subject to high currency risks and inflation would also soar hugely as investors became more reassured of values.Another benefit: no more national currency crises, which have riled Argentina, Mexico, Thailand and Russia in recent years. No country would have a balance-of-payments problem or need to maintain reserves of foreign assets, such as currency or bonds, to counter dramatic fluctuationsBut world money has drawbacks too. No single nation could adjust its domestic monetary policy to remedy a specific economic situation. So the Fed could no longer lower interest rates to counteract an economic slump.
Also, central banks would not be in competition to maintain low-inflation rates for their money. Then there's the question of management -
Originally posted by Worldlybusinessman:
i strongly suspect it was the Sing Dollar, because sing tried to buy banks rite. Singapore had truly world ambitions!
It's not Ah Sing Dollar, it's Ho Ching Dollar cos you are meant to lose it all away. -
------------Worldlybusinessman-------------- GOLD or SILVER? -------------------------------------------- Both are applicable, but I'll take gold anytime (as silver is worthless in singapore!) lol
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-------------TooFree--------------- Lately, there have been talks of a intention of a new currency to replace the US dollar since it has inccurred a large amount of debts. ----------------------------------- erm, is it gold bars?? :lol: there're cases whereby ppl in US buy a house using gold coins only (no cash)! I won't be surprised if gold bars is the new currency. Then again if it happens, it would meant the economy is really more jialat than now!
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--------------4sg---------------- But here the perplexity. If the G20 starts to create another global currency to replace the dollar, what's there in Uncle Sam's pocket to pull out the trillions for countries like China, Japan etc to convert their lots, from the Dollar to the new currency? But this the irony, isn't it? --------------------------------- There is already a "global currency" - gold. Did you know alot of americans are buying gold bullions now? as they are beginning to realise their USD has fallen 98% (1 USD now real value is 2 cents only! - quoted from a US forumer)
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Originally posted by cyberr1981:
The currency that we have is not REAL money. It’s just a piece of printed paper (of plastic in this case) representing a value stored somewhere.
REAL money has the following properties:
- gains value over time, over recession
- easily liquidable
- recognised worldwide for its value
- rare, limited supply in this world
- cannot be manufactured/printed more when demand increases
- will never have ZERO value
- easily carried/stored
- is never used up/destroyed, merely transform from 1 form to another.
- therefore, it is permanentOnly 1 thing in this world satisfied ALL the above criteria. *Hint: this thing can be found in the chemistry periodic table.
I’ll reveal the answer later…...
(I think,
some ppl already know what I’m talking about!)gold?
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-------------dumbdumb!-------------- gold? ------------------------------------ Both gold and silver satisfied all the criterias. But I prefer gold as silver is worthless (not recognised) in singapore's pawnshops.
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i heard, gold can be manufactured artificially.
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---------------Worldlybusinessman----------------- i heard, gold can be manufactured artificially. -------------------------------------------------- Then you heard wrongly, Gold (Au) is already an element which cannot be manufactured.
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Originally posted by Worldlybusinessman:
i heard, gold can be manufactured artificially.
grow up?