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Or, if the US dollar drops out of the race (who can tell what the next decade will bring, after all), number three?

China certainly would not want to have the reserve currency until 2020/2030 ... depending on how rough the ride is as they turn the demographic corner, but the Yen as a counterweight to the Euro might be acceptable.

Four? (or, if the US$ drops out, three?) ChrisCook's PetroDinar?


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Tue Jan 13th, 2009 at 10:21:04 PM EST
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BruceMcF:
ChrisCook's PetroDinar?

Petro.

You wouldn't have the Iranians or Russians supporting an Arabic currency....

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Wed Jan 14th, 2009 at 05:55:14 AM EST
[ Parent ]
Ah, I was thinking in terms of capturing and diverting the Gold Dinar, but coming out of SEAsian Dar Islam, it may be ignoring the old fight back in the heartland.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Wed Jan 14th, 2009 at 06:56:22 AM EST
[ Parent ]
€, Yen and the North American Peso (a.k.a. US$) is three that will probably have a running chance.

Russia certainly has the population, resources and (potentially) industrial power to support a reserve currency, if they choose to do so (and play their cards right).

You say that China won't want to, and I assume that much the same logic applies to India.

Then there's the possibility of a South American Peso (think € for MerCoSur). That's probably not something we'll see on a ten- or twenty-year horizon, but MerCoSur (or an equivalent organisation) will be a major power within my lifetime.

Then you have Asean, which I personally don't believe will achieve Great Power status, or even enough political and economic coherence to form a monetary union in the first place. It's located right between two major powers (India and China)... which seems to be an unhealthy thing to be, judging by the way the Greater Middle East and Europe during the Cold War turned out...

Sub-Saharan Africa is a complete basket case and will take at least a lifetime to sort out - and that's assuming that the Great Powers would stop actively trying to break things there...

So my guess would be €, Yen, US$ for the first ten to twenty years. After that, possibly the Ruble. And within my lifetime possibly Renmimbi, Rupi or South American Peso.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Jan 14th, 2009 at 01:47:53 PM EST
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