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Is hard currency on its way out? Introducing the new virtual world currency.The new virtual world currency is an index of the world’s 15 largest economies, weighted by their gross domestic product, adjusted for purchasing power parity.By Rocky Vega CSMonitor Oct. 28, 2010 |
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 A world currency would be the most hyperinflationary currency the world has ever seen. One of the only minor checks on central banks inflationary abilities is the fact people can move their money into other currencies, remove that check and everything goes. See this. - ChrisWhen discussing reserve currency alternatives to the US dollar, conversation almost inevitably returns to the International Monetary Fund’s “synthetic reserve asset,” the Special Drawing Right (SDR). However, the SDR basket of currencies is noticeably antiquated in its design, including only the currencies of industrialized nations… namely British Pounds, Euros, Japanese Yen, and US Dollars. This week, foreign exchange manager Overlay Asset Management has announced a currency basket it’s launching in order to offer a more up-to-date “virtual world reserve currency.” Read More |
