Once again, the so-called “extremists” were right.
Russian President Dmitry Medvedevillustrated his call for a supranational currency to replace thedollar by pulling from his pocket a sample coin of a “unitedfuture world currency.”*
“Here it is,” Medvedev told reporters today in L’Aquila,Italy, after a summit of the Group of Eight nations. “You cansee it and touch it.”
The coin, which bears the words “unity in diversity,” wasminted in Belgium and presented to the heads of G-8 delegations,Medvedev said.
The question of a supranational currency “concernseveryone now, even the mints,” Medvedev said. The test coin“means they’re getting ready. I think it’s a good sign that weunderstand how interdependent we are.”
Medvedev has repeatedly called for creating a mix ofregional reserve currencies as part of the drive to address theglobal financial crisis, while questioning the U.S. dollar’sfuture as a global reserve currency. Russia’s proposals for theG-20 meeting in London in April included the creation of asupranational currency.
*We somehow don’t believe this crackpot idea will go over to well with the average Russian citizen. — Ed.