Saturday, December 29, 2007
Monday, December 24, 2007
01.04.07 I wrote in the Oil & gas money post:
"Imagine someone has created electronic money based on oil & gas, which are beyond central bank regulations. Why beyond? Because this oil & gas money is not for making loan based dependency. It's for trading any goods and services (in result) and for the appropriate transactions, only for that.
Here is how it might work.
Need oil & gas? Pay e-money. Don't have it? Give us this and this in exchange ...
As a matter of fact if some wealthy clans could create 100 years ago the world currency and loan based banking, why another structure can't emerge?
The main question is - who can even start thinking about it and where - in Russia, in the Arabic world, in Venezuela, in the US, EU ...?"
22.12.07 RTE News reports:
"Chavez wants to extend barter scheme
Venezuelan President Hugo Chavez has proposed extending a barter scheme used by Cuba to other Caribbean and Central American nations to help them pay for oil supplies with products and services.
Venezuela sends nearly 100,000 barrels of subsidised oil a day to Havana and in return, thousands of Cuban doctors and teachers offer free services in Venezuela.
Also you can read "Venezuela's bad example" by Alberto Cruz.
Mr. Hugo Chaves thinks and acts quickly. But barter scheme needs an infrastructure to grow into new currency.
Sunday, December 23, 2007
Tuesday, December 11, 2007
As I posted earlier and it is seen now the national brands compose the world money:
- Kuwait Abandons Dinar Peg to US Dollar;
- Latin American nations form Bank of South;
- Iran Oil Minister Gholam-Hossein Nozari: Oil revenues mostly in currencies other than US dollar.
Russia, according to evrazia.org, has intention to use RBL or EUR for the appropriate deals, as Alexander Medvedev, deputy chairman of Gasprom, said.
"Dollar has changed into virus ... ", - Konstantin Andreev, director of Eurasian economic club, thinks.
What will be next?
I think the processes of currencies division and currencies uniting are connected. The problem is a basis for connection - credit or transactional nature of the united currency. The center of financial power may become distributed.
New financial knowledge is on the agenda.
The Hindu reports:
"Latin American nations form Bank of South
BUENOS AIRES (ARGENTINA): Presidents from six Latin American nations on Sunday signed a document creating the Bank of the South, a regional development bank launched with capital from Venezuela, Bolivia and Argentina.
The Presidents had previously said the bank aims to boost economic growth with cheap credit for infrastructure projects and private sector projects.
Mr. Chavez said the bank was the first step in creating a single currency to replace the U.S. dollar, and that step by step, it will replace the IMF and World Bank.
They do not go beyond credit in finance.