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Economics, Eternity, Governance, Investing

THE WORLD IN A COIN

Medvedev Shows Off Sample Coin of New ‘World Currency’ at G-8

Even if Russia’s call for a global currency failed to gain much traction at a G8 summit, President Dmitry Medvedev took home a coin meant to symbolize that the dream may one day come true.

The Russian leader proudly displayed the coin, which bears the English words “United Future World Currency”, to journalists after the summit wrapped up in the quake-hit Italian town of L’Aquila.

Medvedev said that although the coin, which resembled a euro and featured the image of five leaves, was just a gift given to leaders it showed that people were beginning to think seriously about a new global currency.

“In all likelihood something similar could appear and it could be held in your hand and used as a means of payment,” he told reporters. “This is the international currency.”

Russia, along with China, has been a vocal proponent of diversifying the global currency system away from the dollar, which has dominated global finance and commerce since the end of World War II.

French President Nicolas Sarkozy at the summit joined the band in favour of dumping the dollar as the international currency of reference, insisting that “we cannot stick with just one single currency.”

Bloomberg article here

FIRST TEST ISSUE COIN EXPLAINED:

OBVERSE: the “Number 1” icon is repeated five times, representing the five continents. The border inscription reads “Unity in Diversity” and includes the first issue date of 2009.

Author: Luc Luycx, Royal Mint of Belgium.

REVERSE: the Tree of Life, with five leaves symbolizing local tree species that grow in the five continents. The border inscription reads “United Future World Currency”.

Author: Laura Cretara, former artistic chief of the Italian State Mint.

You can read more about this information at the “United Future World Currency” website:

http://www.futureworldcurrency.com/

Close up picture here

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About steveblizard

Steve Blizard commenced his financial planning career in 1988 from a background of life insurance broking, a field in which he still works. He is a member of the Financial Planning Association and the Responsible Investment Association. His experience ranges from administration of Superannuation to advice regarding insurance, retirement, remuneration and investment planning. Steve is an accredited Remuneration Consultant, specialising in salary packaging. He is a columnist for the Swan Magazine and the WA Business News

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