Mangalore:To avoid the Currency Conflicts between countries, the world prosperity forum has come up with a new concept of a neutral currency called ‘Roller’ for international trade and reserve said Mr. Kateel Dinesh Pai, the Convener of the Forum.
Addressing the media in the press meet held in the press club of Mangalore Mr. Kateel said that the aim of this neutral currency is to get “justice for efforts” and to free all countries of the world from clutches of any country.
He also stated the concepts as follows:
1. It should be used only for international trade between 2 nations.
2. It will be held only by the National Government of each Country.
3. The neutral Currency shall be virtual in Nature and shall be transacted through instruments. No physical currency “notes” will be used.
4. It cannot be traded in open market.
Effects of ‘Roller’:
1. It will not affect the exchange rate of dollar with other countries domestic currency.
2. Nations involved in trade will receive the due benefits for their efforts and avoid sharing the benefits with a third country.
3. All member countries will be the joint owners of the UN currency authority. Hence any profit gained also will be shared accordingly.
Forum members Devappa Shenoy, Prasad Gurooji, Raghav and Jayakumar were present at the occasion.