Russia to Propose New Global Common Currency

By Joel C. Rosenberg

...And the Kremlin is not alone

Amidst the global economic crisis in which upwards of 45% of the world’s wealth has been lost in the last 18 months, talk of radically restructuring the global economic system is growing. In recent weeks, leaders in Europe, Africa and the Middle East have proposed scrapping the current economic order and going to a single common currency.

A story in this morning’s Moscow Times – and featured prominently on the Drudge Report — is creating quite a stir in particular. At the April 2nd meeting of world leaders in London (the G20), the Kremlin is reportedly set to propose a new global common currency system that will replace the U.S. dollar as the international currency of choice.