Currency Wars: Nazarbayev recommends the introduction of a global currency

0 57

June 17th, 2017 – Fort Russ News –
-Pars Today – – translated by Frederick Assar –

In a speech at the Astana economic forum, Kazakh President Nursultan Nazarbayev, proposed taking into consideration the introduction of a “global currency” that will free the world from currency wars.

- Advertisement -

“It is time to take seriously into account the introduction of an international payment unit that will free the world from currency wars, speculation, avoiding distortions in trade relations and reducing market volatility,” said Nazarbaev, stressing that “money should have a simple, transparent emission mechanism for consumers”. “Taking into account digitization, technology development, such as block-chain, this payment unit can only be set up as currency. It’s important that it is not based on abstract trust for specific resources,” he added. In his view, “the introduction of a global currency is possible through the creation of a pool of central banks, for example, by a special UN committee”.

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.

Get real time updates directly on you device, subscribe now.