Save The World With One Currency
The paradox of the recession, it’s boom time for innovation. And there are suggestions aplenty on how we could fix the global financial markets. This one from Kazakhstan where the President Mr Nursultan Nazarbayev is calling world leaders to invest an a global currency. "The global currency market is not competitive and therefore it is not civilised," he said. "A new global currency should serve as the foundation for a new harmonious system. There have been a few calls for a global reserve currency, like this one from the head of the Chinese Central Bank calling for the end of the reign of the dollar. The Kazakh proposal suggests that the new currency be called acmetal, an amalgamation of the Greek work "acme", meaning "the best", and capital. So confident is he in the success of his new currency that Mr Nazarbayev predicted that the world would soon be talking of "acmetalism" instead of "capitalism". More on
NY Times blog.
