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.
A little history on the coin
The world in a coin. This is our vision, our hope. It is a necessity and a challenge. What seems an impossible dream becomes an inevitable historic, economic and social process. It is an event which is intertwined with the fate of human evolution.
A single currency becomes the premise for an increasingly global planet. A virtual currency capable of speaking a single, comprehensible language to foster humankind’s innate desire to go farther, to surpass boundaries, and move towards true principles of peace, freedom, brotherhood and understanding beyond issues of race, political and religious beliefs and party interests.
We are presenting the peoples of nations, governments, institutions, intellectuals, ordinary people, pragmatists and idealists, scholars and, above all, young people – the real protagonists of the future – with a simple, ingenuous yet determined long-term vision for building an ideal bridge with tomorrow and interpreting a dream to transform into reality.
In this program, currency yet again assumes the principle goal which it has had since its invention centuries ago: to facilitate and codify human commercial and social exchange. And become a form of pure “communication” between different peoples – a communication of ideas, ideals, information and culture. This constitutes progress, development and well being.