I am heavily quoting an article below from the DOW JONES NEWSWIRES written By Tom Barkley because this situation leads us into a discussion about alternate currencies in which Conversational Currency is applicable.
We predict that the structure for an innovation economy will be built on a platform of Social Media where conversational Currency is the currency of trade. We admit that this is a far cry from a declaration of government foreign or domestic, sorry about that. We also admit this is a far cry from what Corporations, Banks, Insurance Companies and traditional media barons would espouse, Ooops.
The best management policy is to accommodate what people are already doing. People are ADOPTING Social Media in a frenzy of applications which were not even predicted by those who developed the platforms – this is a reality, not a fantasy or a blip in the radar screen. Social Media will have an extraordinary role in the value of currency – if people don’t like it, they won’t trade it; Game over. The next Global Currency will be represented by human productivity traded in social media. The most productive country will hold the most currency – this is a game that the US can still win.
WASHINGTON (Dow Jones)–U.S. Federal Reserve Chairman Ben Bernanke waded into the international debate over the fate of the dollar Thursday, pledging to do his part to avoid what he sees as a longer-term risk to the dollar’s status as the world’s predominant reserve currency.
[China and Russia have been the major drivers behind calls for an alternative reserve currency, blaming the U.S. for the global crisis and worried that its growing debt load could pose a further threat to stability. That view gained some additional force this week when World Bank President Robert Zoellick predicted that the dollar would face increasing as a reserve currency and its status would depend on how well the U.S. can manage its debt.]
Here is the Social Media Pitch:
[The G-20’s plan to reinforce country measures to address imbalances through peer reviews “would perhaps strengthen the mechanism” for enforcement, he said.]
At the end of the day PEER REVIEW will be the global vetting mechanism that supports the value of a currency. What part of Social Currency are we not understanding here?