G-Money

Washington DC is hosting the G20 summit today to address the global financial crisis. The buzz seems to indicate the G4 bloc will request more regulatory measures on banking institutions and seek more power for the World Bank and IMF. While this is an expected reaction it is also one we should be very concerned with. The logical conclusion of such a path is a global centralized bank with a common currency controlled by a few elites. While I do not have an immediate objection to a global currency (call it the Earthos?) I want the currency to be derived over time by competing currencies, both govt and private, following sound monetary policies. I do not think we will be well served by a single currency controlled by a small governing body but rather will benefit from multiple currencies based on a variety of backings (i.e. gold, oil, World of Warcraft, water).