Posts Tagged ‘IMF currency’

“The dollar should be replaced with a global currency, the United Nations has said, proposing the biggest overhaul of the world’s monetary system since the Second World War.”


Told you so.











“Welcome to the United Nations.  It’s your world.” is the trademark for the UN website http://www.un.org/en/ adding, “We the peoples…A stronger UN for a better world.”

The wing (nuts) of the UN- The United Nations Conference for Trade and Development, UNCTAD  have released a report calling for the elimination of the dollar. The full text of the  Trade and Development Report 2009 http://www.unctad.org/Templates/webflyer.asp?docid=11867&intItemID=1397&lang=1&mode=downloads.

The Telegraph summed it up:

In essence, the report calls for a new Bretton Woods-style system of managed international exchange rates, meaning central banks would be forced to intervene and either support or push down their currencies depending on how the rest of the world economy is behaving.

“Replacing the dollar with an artificial currency would solve some of the problems related to the potential of countries running large deficits and would help stability,” said Detlef Kotte, one of the report’s authors. “But you will also need a system of managed exchange rates. Countries should keep real exchange rates [adjusted for inflation] stable. Central banks would have to intervene and if not they would have to be told to do so by a multilateral institution such as the International Monetary Fund.”

p. 12 [The SCHEME] Whatever form an enhanced scheme of SDR allocation may take, it will only be acceptable to all countries if the terms on which SDRs can be used as international liquidity are absolutely clear-cut, particularly the  parity of the SDR vis-à-vis all national currencies. The Bretton Woods system and the European Monetary System provide precedents for what could be an appropriate solution for determining exchange rates within a multilateral framework. In these systems the implicit rule was that the exchange rate of a national currency with the international currency was determined by the purchasing power of that currency expressed in all other currencies.

Straightforward and simple- To define the scheme, the dollar is going to be worthless or worth less upon the acceptance of a new global currency. The financial system that thrives on currency trading would do so no more.  So much for economics of growth in America!  NAFTA and GATT were the first steps to the “giant sucking sounds” quoting, Ross Perot who stood firmly that NAFTA would cause U.S. jobs to go south, and manufacturing east to china.  

China’s reserves are now more than – $2 trillion, the world’s largest.  Cheng Siwei now head of China’s green energy drive said referencing the US, “If they keep printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard. Most of our foreign reserves are in US bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen, and other currencies,” he said. http://www.telegraph.co.uk/finance/economics/6146957/China-alarmed-by-US-money-printing.html  As proof of TARP’s failure- The more “money” the Federal Reserve creates – the less your “money” buys.

China, Germany, the U.N. and others previously called for a new “international reserve currency”, lessening a dependence of the dollar and U.S. economy.  Timothy Geithner’s response? He is ”quite open” to the suggestion to remove the greenback.  A$$hole- can’t even file his own taxes correctly.

Sir James Goldsmith warned of the trappings of Globalization in his book the Trap.
http://www.amazon.com/Trap-James-Goldsmith/dp/078670263X/ref=sr_1_3?ie=UTF8&s=books&qid=1246039027&sr=1-3.  He also testified to the dangers of globalization to Congress in 2007 with the transcript here http://www.alanwattsentientsentinel.eu/english/transcripts/Alan_Watt_Blurb_Sir_James_Goldsmith_US_Senate_Speech_Oct192007.html saying , “Senator, there’s absolutely no doubt whatsoever that the World Trade Organization is a major diminution of sovereignty.”…”  Its only purpose is to impose discipline on all the nations to accept a trading system, and that that discipline should be under the control of all the nations that participate on a ‘one vote, one nation’ basis.”

The Security and Prosperity Partnership of North America (SPP) exists in part, as a perfect way to introduce a regional currency called the Amero and regional cooperation between the U.S. Canada and Mexico. www.spp.gov This is just another step at eliminating sovereignty making the transition to a world currency more easily acceptable.  The EU has the euro, is the Amero really not plausible? 

1. Global Currency 2. Global Government 3.  Unbridled control over the World.

In asking how much money the U.S. gives to the UN? “For a brief overview, due to underfunding of U. treaty-obligated payments to the UN, the U. 5 billion in permanent debt to the UN. As of March 2008, the U. 4 billion in obligations to the UN, so progress has been made over the last year. Majority of the current U. 3 billion) is for peacekeeping missions. is assessed 22% of the UN regular budget and 26% for UN peacekeeping appropriations. http://www.xmediapartners.com/How_much_money_does_america_give_to_the_united_nations-qna3436.html

If the UN doesn’t like our American currency, they can stop taking our money anytime. 


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