Thought you guys would like a prelim glimpse..
OK, I'll bite. Where?
Everywhere. No more dollars. A global currency for a global economy...
"Medvedev Shows Off Sample Coin of New â??World Currencyâ?? at G-8
By Lyubov Pronina
July 10 (Bloomberg) -- Russian President Dmitry Medvedev illustrated his call for a supranational currency to replace the dollar by pulling from his pocket a sample coin of a â??united future world currency.â??
â??Here it is,â?? Medvedev told reporters today in Lâ??Aquila, Italy, after a summit of the Group of Eight nations. â??You can see it and touch it.â??
The coin, which bears the words â??unity in diversity,â?? was minted in Belgium and presented to the heads of G-8 delegations, Medvedev said."
The Shanghai Stock Exchange will collapse between July 17-27 (80% prob)
China will do everything in its power to save itself, redeeming their T-Bills and Bonds en masse. The drain on our system will be too much. We'll crash in September...then the new currency/coins.
Oh yeah, you got that shit right. Nothing much else, though.
I highly doubt this will ever come to fruition any time soon. Even with the US deficit growing uncontrollably, the US dollar is still the most stable currency out there.
The Shanghai Exchange is up 69% since bottoming last year. Its a bubble. The same thing happened in 1929 --- the US stock market crashed and Americans called their loans to Germans, especially the German states and municipalities. Weimar had huge debts and was just barely above water. Hitler followed.
The Chinese will cash in their debt, seeking to get out whatever they can, all the while cursing themselves for lending us money.