Jul 11, 2009

The President of Russia showed off a new coin to make the point that there is a new world currency coming, which is supposed to be the solution to the present currency crisis.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aeFVNYQpByU4

Here is the picture of it:

http://pics.livejournal.com/a_kolesnichenko/pic/00021ace/

Coincidentally, he just happened to have one at the G-8 summit in Italy. Of course, the problem is not the old currency per se, nor is any new currency going to be the solution. A new face on money simply carries over all the old debts of the old currency--which are the real problem. The only real difference, you can be sure, is that with a new currency will come new controls and more power to the very people who caused the problem in the first place.