New monetary system on horizon

Published: 13 Oct 2012 at 18.52
Online news:

The end of the US dollar's dominance is inevitable and the new international monetary order will be based on more than one key reserve currency, experts say.

The leader today, but for how much longer?

A multi-currency system would enhance trade and investment as it would help reduce obstacles, such as transaction costs, exchange rate fluctuations, and complexity in administration, said Chakkrit Parapuntakul, deputy permanent secretary for the Finance Ministry.

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pointman-1
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Discussion 9 : 14 Oct 2012 at 18.099
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I believe, "on the horizon," is where it's most likely to stay. The U.S. Dollar will only get stronger. China, is experiencing a slowdown in manufacturing, U.S. Companies are relocating back to the USA, the oil business is booming in the USA, and there's a projection of adding over 5, million new jobs. Since the USA, leads the world in technology, i.e., landing Curiosity Rover on the Moon, I see nothing but support for the U.S. Dollar. Furthermore, "a basket of currencies," sounds great, but there's far too many negatives involved for this to happen. Countries get into a squabble and the basket turns into a handbag.
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bikeme
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Discussion 8 : 14 Oct 2012 at 15.478
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Perhaps with time the Euro and Renminbi will become benchmark currencies like the US Dollar. But it will take time. The EU and its Euro are still too new and untested. Likewise for China's current growth spurt, it has been too short and the current government hasn't been around for the long haul yet.
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DONHUAN
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Discussion 7 : 14 Oct 2012 at 13.397
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The smartest thing the US did was to abandon the gold standard because it allows them to have as many QEs as they want so that they can “inflate” their domestic market as well as indirectly reduce, not manipulate, their currency world wide. Of course being the only super-power on earth accords certain privileges and rights. Besides, they are too big to fail and if they do, the world will go down the toilet with them; that Capitalism whether you like it or not. As a matter of course, forget about the Euros or other currencies, lets use the US dollars as the only world currency so that every one can do their QEs too.
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joe_blow
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Discussion 6 : 14 Oct 2012 at 02.436
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Never happen, money is about capitalism and there's only currency that's 100% capitalist and that's the US Dollar.....that's why it is what it is and will always be.....it might fluctuate in value, but it will always be the international standard.....worst thing the US ever did was abandon the gold standard, but even after that the dollar still retained it's place as a world standard. "New World Order" and "One World Currency" are conspiracy theories....they make excellent subjects for Hollywood movies and fiction novels.
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lookmoo
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Discussion 5 : 14 Oct 2012 at 00.575
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This idea is a stupid as the creation of the EURO.. trust me. It have no merits as a business idea and its tied to a political brain fart.
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DONHUAN
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Discussion 4 : 13 Oct 2012 at 23.394
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I would suggest one world currency (OWC) as our new international monetary order which are back-up by a basket of key reserve currency and regulated by a newly created World Currency Exchange. Forget the multi-currency system as suggested. New exchange rates:
USD 1.25 = 1 OWC; RMB 4.5 = 1 OWC; YEN 85 = 1 OWC; EUR 1.5 = 1 OWC
Using this new world currency will be more neutral and less prompt to political pressure.
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nitnoi
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Discussion 3 : 13 Oct 2012 at 23.153
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by 2040 I would not be around to use the new currency. the new generation should save some US bank note as a keepsake, If they have too much they can use for handrolled cigarete.
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san191
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Discussion 2 : 13 Oct 2012 at 22.142
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I wouldn't want to trust China, let alone chinese currency.
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samut
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Discussion 1 : 13 Oct 2012 at 20.191
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It's about time I would say.....
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New monetary system on horizon | Bangkok Post: business