Tag Archives: unconditional cancellation of national debts

A new global currency for global peace

The need to reform the present economic order based on the Washington Consensus and establish economic justice in the world is more and more admitted as an urgent priority by both the UN organizations and the civil society. Such transformation of the international economic order requires the creation of a new monetary order at the center of which stands the creation of a new world currency. That currency should be instrumental in the creation of a stable international would not be limited to compensating the excesses of the present economic order dominated by financial forces, but to be fully part of a new economic pattern that would endeavor first and foremost to implement the universal Human Rights in their economic dimensions.

A new global currency for global peace

The need to reform the present economic order based on the Washington Consensus and establish economic justice in the world is more and more admitted as an urgent priority by both the UN organizations and the civil society. Such transformation of the international economic order requires the creation of a new monetary order at the center of which stands the creation of a new world currency. That currency should be instrumental in the creation of a stable international would not be limited to compensating the excesses of the present economic order dominated by financial forces, but to be fully part of a new economic pattern that would endeavor first and foremost to implement the universal Human Rights in their economic dimensions.

This currency, therefore, would not simply be an aggregate of any existing currencies, nor should it be subject to speculation and volatility, but would include a pivoting reference made of a basket of values such as gold, silver and other raw materials, managed as Global Commons under the supervision of the stakeholder nations of the world.

It would likewise be a regulatory instrument in controlling the monetary expansion and be a privileged means of external funding for developing nations to monitor their own development.