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Does The Dictionary Foretell Our Monetary Future?

Google is known as a massive technology company. Best known for its Search, Adwords, Adsense, Analytics, Google Books, Google News, YouTube, Google Voice, Google Maps and other products and services, something Google is not known for is financial advice, but that might be changing.

Check out this definition:

currencydefinition

It seems Google knows what’s up…It seems to be giving its user a hint to divest from the US Dollar…

As you can see, the use-example for the word “currency” hints at something we have been writing about for some time now…that the dollar “was” a strong currency, but is no longer.  Since Google technically licenses its definitions from Oxford, we can look across the pond for the source of this nuggest of insight. Many nations are catching onto the fact that the dollar “was” a strong currency, but is no longer. Brazil, China, India, France, Russia, and South Korea have all been vocal about the fate of the US Dollar.

“We [Europeans] are selling to ourselves in dollars, for instance when we sell planes,” French finance minister, Michel Sapin, told the Financial Times. “Is that necessary? I don’t think so. I think a rebalancing is possible and necessary, not just regarding the euro but also for the big currencies of the emerging countries, which account for more and more of global trade.”

The head of the Russian central bank has proposed solutions for the weakening dollar, working towards developing alternative trade mediums.

“We’ve done a lot of work on the ruble-yuan swap deal in order to facilitate trade financing. I have a meeting next week in Beijing…We are discussing with China and our BRICS partners the establishment of a system of multilateral swaps that will allow to transfer resources to one or another country, if needed. A part of the currency reserves can be directed to [the new system].”

As far as what the future holds for currencies, things are still up in the air, and Oxford/Google make this clear:

bitcoindefinition

Nobody knows “if bitcoin is destined to succeed as the global currency.” But it seems Oxford/Google know many people are asking that question…

currencydefinition

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1 year ago

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1 year ago

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