Hi eraser2012,
There is a more sinsister way of looking at this proposal.
Making a global currency based on values of other currencies or 'basket' of currencies will be based on what? Will this basket of currencies be based on gold again or just 'trust' which would bring us back to the $ standard.
When the ECU was born, all participating European nations had to limit their spending and tighten the reigns on the budget deficit, actually if I remember rightly were not allowed to have a budget deficit. That would control the 'trust' of the different currencies and stabelize the exchange rate between them.
In the case of the US if this were to happen, it would never even get a look in.
But all other poorer countries who have large debts and difficult budgets to try and balance wouldn't either.
This would effectively leave the global currency affordable to only a few nations, like China, France, Germany and the such.
Having the IMF controlling any kind of global currency is like giving your loaded gun to your assailant. The IMF has such close links to the Federal Reserve it's uncanny.
The IMF lend money to poorer nations in return for interest on the loan and political agreements, in the case of Brazil, the sale of rain forrest and raw materials to American companies and the purchase of finished goods from the same.
It will be interesting to see how all of this plays out.
Best regards,
Steve
Quote:
Originally Posted by eraser2012
I'm not sure the extent to which most of the subscribers realize how big a deal this actually is, although I would suspect users here are closer to that understanding than most. I won't write a novel here, although that could be done easily given the quantity of data and information that has been pouring over this topic across the world and Internet. Here are the basic things which make this HUGE for the entire world:
1. Although they are presently talking about a new "reserve" currency, or basket of currencies, it is in the shadow of much discussions and planning regarding regional currencies (the Amero, for example for the North American Union) as well as more recently making news the discussions about a new, single global currency. This is all conditioning so that the people of the world will accept a single world currency model. This is a very bad thing as the reasons below indicate.
2. A new single world currency would be tantamount to the a single regulatory system and, shortly thereafter, a single governmental system which controls all "freedoms", choice, laws, etc. It is a very necessary component to the new world order that a single currency emerge and quite possibly the main reason for the economic destruction that is being leveled by the string pullers.
3. The fewer world currencies there are, the less gold/silver provide any level of protection against inflation or wealth destruction. This equates to total financial control by the State over all of humanity and we all know what happens in countries in which this is the case.
4. Lastly, a decision even to divest in the US Dollar into but an element of the reserve basket from sole position undermines tremendously the control the US will wield in the world's financial markets.
This will mark the official end to US super power status.
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