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Toward a World Central Bank.(Insider Report)(global currency)
The 10th Santa Colomba Conference, held in that Italian city in late June, examined the question: "Does the Global Economy Need a Global Currency?" According to former Federal Reserve Chairman Paul Volcker, the answer is a resounding "Yes"--a view shared by the 15 members of the international banking elite present at that gathering.
Among those in attendance, reported the June 30th Wall Street Journal, were Jacob Frenkel, former head of the Israeli central bank; former Argentine Finance Minister Domingo Cavallo; and noted economist Steve Hanke, who is affiliated with the libertarian Cato Institute. The event was convened by Nobel Prize-winning economist Robert Mundell.
"The first [Santa Colomba] conference was held in 1971, three weeks after President Nixon's August 15th announcement severing the link between the dollar and gold," recounted the Journal. Mundell's writings and arguments "motivated both the Reagan administration economic policies in the U.S. and the advent of the euro on [the Italian side] of the Atlantic."
Mundell's argument, briefly stated, is this: ...
- ANALYSIS - SRI LANKA CENTRAL BANK MAKES US$197 MLN FOREX LOSS.
- News wire article from: AsiaPulse News April 17, 2009 700+ words
...Third World pegged central bank that inflates the economy...not suffering from central bank impotence, were able...rates. Sri Lanka's central bank says the reserve fall...was accelerated by global currency movements against the...
- G-20 open to idea of alternate global currency, says Brown.
- News wire article from: PTI - The Press Trust of India Ltd. April 3, 2009 700+ words
...proposal of an alternate global currency, but the issue did...Chinese idea of a new global currency by pointing out that...Governor of China's central bank Zhou Xiaochuan last...possibility of an alternate global currency, Indian Prime Minister...
- Rudd against creating new global currency to replace US dollar.
- News wire article from: PTI - The Press Trust of India Ltd. March 25, 2009 700+ words
Rudd against creating new global currency to replace US dollar Melbourne...Bank of China to create a new global currency to eventually replace the US...of the governor of the Chinese central bank, Zhou Xiaochuan, to incept...
- YEN'S APPEAL AS GLOBAL CURRENCY SHROUDED IN FOREX TRENDS.
- News wire article from: AsiaPulse News August 18, 2006 700+ words
...gradually losing its luster as a global currency despite governmental efforts...s share. In April, Swedish central bank Sveriges Riksbank said it had...the euro, which emerged as a global currency, dimming the yen's role on...
- On global currency reserves.(Just the Facts: TIE's Executive News Service: THE...
- Magazine article from: The International Economy Rees, Matthew March 22, 2008 700+ words
"Global currency reserves have soared from $2,000 billion in the second quarter...the second quarter of 2002, the dollar represented 71 percent of central bank holdings, while only 19.7 percent was held in euros." --Financial...
- Co-Creator of Euro to Propose Global Currency at Denver Currency Summit.
- Newspaper article from: The Denver Post (Denver, Colorado) (via Knight-Ridder/Tribune Business News) October 24, 2003 700+ words
...architect of the euro, Bernard Lietaer, will unveil a new global currency called the "terra" next week in Denver as an antidote...Lietaer began working on the euro in 1978 while at the Central Bank of Belgium. The hardest part was not coming up with one...
- The buck starts here: a new book explains how the dollar became the premier...
- Magazine article from: The American (Washington, DC) May 1, 2008 700+ words
...everything, he writes, the mighty U.S. buck is still the global currency of choice. "It figures in nearly 90 percent of all trades...foreign exchange market. Nearly two-thirds of the world's central bank reserves are held in dollars." But the euro is gaining...
- BoI halts daily dollar-purchase program. Foreign-currency policy to depend on...
- Newspaper article from: Jerusalem Post SHARON WROBEL SHARON WROBEL August 11, 2009 700+ words
...economy's needs." The central bank said it would discontinue...the target set by the central bank in November was between...the greenback in the global-currency market, and [Bank...Fischer said the central bank could not beat the...
