From “Unitas” to “Unity in Diversity”: Medvedev shows off global currency coin at G8 meeting

July 11, 2009


At the Bretton Woods conference in 1944, delegates discussed the possibility of a world currency. Roosevelt originally anticipated a currency called the “Unitas”, and asked his Treasury Secretary to come up with a design proposal for it. John Meynard Keynes proposed the creation of a global currency called the “Bancor.” Eventually the delegation agreed instead to use the US dollar as a global reserve currency.

Yesterday at the G8 conference in Italy Russian President Dmitry Medvedev brought a sample of a coin for a global currency that they’re proposing, which will have the words “Unity in Diversity” written on it. From 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 “united future world currency.”

“Here it is,” Medvedev told reporters today in L’Aquila, Italy, after a summit of the Group of Eight nations. “You can see it and touch it.”

The coin, which bears the words “unity in diversity,” was minted in Belgium and presented to the heads of G-8 delegations, Medvedev said.

The question of a supranational currency “concerns everyone now, even the mints,” Medvedev said. The test coin “means they’re getting ready. I think it’s a good sign that we understand how interdependent we are.”

Medvedev has repeatedly called for creating a mix of regional reserve currencies as part of the drive to address the global financial crisis, while questioning the U.S. dollar’s future as a global reserve currency. Russia’s proposals for the G-20 meeting in London in April included the creation of a supranational currency.

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One Response to From “Unitas” to “Unity in Diversity”: Medvedev shows off global currency coin at G8 meeting

  1. nb on August 29, 2010 at 8:27 pm

    Resist the mark

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