'Great expectations' By Chris Cook - for an energy based reserve global currency
Really interesting idea to use energy as the value measure for a global reserve currency to replace the dollar.
Check it out.
"My first reaction on reading of President Barack Obama's Nobel Peace prize, after just nine months in office, was perplexity, as was my second and third. But perhaps the prize was awarded not in recognition for what the US president has done, but what the Norwegian committee is hoping he will do.
Obama faces many great challenges, and three in particular demand his urgent attention. First, there is the ongoing financial crisis, and the threat to the supremacy of the US dollar as the global reserve currency; second, there is the question of an agreement at the United Nations Copenhagen climate change conference next month aimed at addressing securing agreement on a replacement replace the Kyoto Protocol; and third, there is the question of how to address Iran's ambitions for nuclear energy.
Any one of these would have challenged any of his predecessors in two complete terms: Obama has tasked himself to deal with them all by the end of his first year in office.
The audacity of hope, indeed: but perhaps there may be a simple but audacious solution to all three challenges?"
Read the rest of the article here at - http://www.atimes.com/atimes/Global_Economy/KJ15Dj01.html