The article by Nazarbayev in a way highlights Frank Biancheri's idea of a fragmented world, divided in several regions of influence. Just around the Gulf there's the GCC and the ECO.
Perhaps we could see several versions of the Ecu/Euro emerging throughout the world... Vencit omnia veritas.
Perhaps we could see several versions of the Ecu/Euro emerging throughout the world...
Quite likely there will be competing attempts at cross border currencies, and people will vote with their feet and use the one that works for them. To me, energy is the simplest and most universally acceptable.
National currencies with purely domestic redeemability for value are another issue: that's where I see a basis of land rental value as important. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
