dreamdancer 0 #1 August 11, 2011 interesting... Quote In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises. It added that the present system, under which the dollar acts as the world's reserve currency , should be subject to a wholesale reconsideration. Although a number of countries, including China and Russia, have suggested replacing the dollar as the world's reserve currency, the UNCTAD report is the first time a major multinational institution has posited such a suggestion. In essence, the report calls for a new Bretton Woods-style system of managed international exchange rates, meaning central banks would be forced to intervene and either support or push down their currencies depending on how the rest of the world economy is behaving. The proposals would also imply that surplus nations such as China and Germany should stimulate their economies further in order to cut their own imbalances, rather than, as in the present system, deficit nations such as the UK and US having to take the main burden of readjustment. http://www.telegraph.co.uk/finance/currency/6152204/UN-wants-new-global-currency-to-replace-dollar.htmlstay away from moving propellers - they bite blue skies from thai sky adventures good solid response-provoking keyboarding Quote Share this post Link to post Share on other sites
nigel99 584 #2 August 11, 2011 Been there, done that... and failed. It is called the Euro. Quote The proposals would also imply that surplus nations such as China and Germany should stimulate their economies further in order to cut their own imbalances, rather than, as in the present system, deficit nations such as the UK and US having to take the main burden of readjustment. No both the UK and US should learn to live within their means.Experienced jumper - someone who has made mistakes more often than I have and lived. Quote Share this post Link to post Share on other sites
dreamdancer 0 #3 August 11, 2011 Quote Been there, done that... and failed. It is called the Euro. Quote The proposals would also imply that surplus nations such as China and Germany should stimulate their economies further in order to cut their own imbalances, rather than, as in the present system, deficit nations such as the UK and US having to take the main burden of readjustment. No both the UK and US should learn to live within their means. how about the eurodollar stay away from moving propellers - they bite blue skies from thai sky adventures good solid response-provoking keyboarding Quote Share this post Link to post Share on other sites
DougH 270 #4 August 11, 2011 Ever hear of systemic risk? Ask Germany about how great it is to share a currency with other countries with drastically different economies. Why don't we disband all governments too. We can let the UN govern. Fuck this soverign state idea."The restraining order says you're only allowed to touch me in freefall" =P Quote Share this post Link to post Share on other sites
DiverMike 5 #5 August 11, 2011 Quote Fuck this soverign state idea. Imagine there's no countries It isn't hard to do Nothing to kill or die for And no religion too For the same reason I jump off a perfectly good diving board. Quote Share this post Link to post Share on other sites
weekender 0 #6 August 11, 2011 The markets are driven to the dollar for economic reasons not political. The UN is over thinking this and its obviously political. People will leave the dollar when it is no longer the best option. its that simple. No one cares what the UN proposes. Its an academic exercise by people with too much time on their hands. Not one banker in the world is seriously considering this."The point is, I'm weird, but I never felt weird." John Frusciante Quote Share this post Link to post Share on other sites
BIGUN 1,438 #7 August 11, 2011 Quote Quote Fuck this soverign state idea. Imagine there's no countries It isn't hard to do Nothing to kill or die for And no religion too No. Cause the rest of it goes like this... You may say that I'm a dreamer But I'm not the only one I hope someday you'll join us And the world will be as oneNobody has time to listen; because they're desperately chasing the need of being heard. Quote Share this post Link to post Share on other sites
piisfish 140 #8 August 11, 2011 Swiss franc. 'nuff said.scissors beat paper, paper beat rock, rock beat wingsuit - KarlM Quote Share this post Link to post Share on other sites
shropshire 0 #9 August 11, 2011 Quote Swiss franc. 'nuff said. 1 Euro = 1.04 CHF [GULP!!!] 1 British pound = 1.19 CHF!!!! (.)Y(.) Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome Quote Share this post Link to post Share on other sites
piisfish 140 #10 August 11, 2011 1USD = 0.76 CHF used to be around 1 USD = 1.20CHF 1EUR = 1.60 CHF 1GBP = 1.90 CHF (and have been sometimes much more)scissors beat paper, paper beat rock, rock beat wingsuit - KarlM Quote Share this post Link to post Share on other sites
shropshire 0 #11 August 11, 2011 Quote 1USD = 0.76 CHF used to be around 1 USD = 1.20CHF 1EUR = 1.60 CHF 1GBP = 1.90 CHF (and have been sometimes much more) :-( (.)Y(.) Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome Quote Share this post Link to post Share on other sites
muff528 3 #12 August 11, 2011 I say we go to the Monopoly money standard. There's already billions of dollars worth of it printed and there is only one way it's value can go. Quote Share this post Link to post Share on other sites
shropshire 0 #13 August 11, 2011 Quote I say we go to the Monopoly money standard. There's already billions of dollars worth of it printed and there is only one way it's value can go. Some would say, we're already there. (.)Y(.) Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome Quote Share this post Link to post Share on other sites
DougH 270 #14 August 11, 2011 No, we are on the monopoly money game system that uses the electronic debit card. "The restraining order says you're only allowed to touch me in freefall" =P Quote Share this post Link to post Share on other sites
dreamdancer 0 #15 August 12, 2011 Quote The franc retreated against the euro in a wild-one day move on Thursday after top officials at the Swiss National Bank (SNB) floated ideas for a temporary euro peg, a once unthinkable move. "Nothing is excluded," said Jean-Pierre Danthine, a SNB board member. "The situation is extremely complex and difficult. There is no magic wand." The Swiss franc has moved with gold over recent weeks, acting as a magnet for capital flight from the discredited debt currencies of West. The SNB said the franc is "massively overvalued" and has moved into dangerous territory over the past month. The hotel and restaurant lobby GastroSuisse said the 240,000 strong tourist sector was in an "extremely precarious" state, while the machine tool industry risks major lay-offs and loss of investment to foreign sites. http://www.telegraph.co.uk/finance/financialcrisis/8696289/Desperate-Swiss-eye-euro-peg-to-repel-safe-haven-flood.htmlstay away from moving propellers - they bite blue skies from thai sky adventures good solid response-provoking keyboarding Quote Share this post Link to post Share on other sites
