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- Title
A Monetary Reset Where the Rich Don't Own Everything.
- Authors
Brown, Ellen
- Abstract
An article in The Cradle titled "Russia's Sergey Glazyev Introduces the New Global Financial System" is headlined: The world's new monetary system, underpinned by a digital currency, will be backed by a basket of new foreign currencies and natural resources. Acceptance of a currency is based on trust, and a "currency reset" changes the backing of the currency to restore that trust when it has failed. For sovereign debt (the debt of national governments), a form of jubilee is envisioned by Sergei Glazyev in conjunction with the alternative monetary system currently being designed by the Eurasian Economic Union (EAEU), detailed in my last article here.
- Subjects
NIXON, Richard M. (Richard Milhous), 1913-1994; INTEREST rates; FINANCIAL crises; INVESTMENT banking; NATURAL resources; INVESTORS; NEGOTIABLE instruments; PROMISSORY notes
- Publication
CounterPunch, 2022, p1
- ISSN
1086-2323
- Publication type
Article