United Nations Proposes New "Global Currency"
(AP)
That recommendation appears in a U.N. report released this week, which suggests the dollar's outsize role in international finance has ended -- and says that it's time to invent a successor currency that would be managed by a "Global Reserve Bank."
Countries could "agree to exchange their own currencies for the new currency, so that the global currency would be backed by a basket of currencies of all the members," says the 218-page report from the U.N. Conference on Trade and Development.
Keep in mind that this is a U.N. report written by bureaucrats without any actual legal ability to create the global equivalent of the Federal Reserve. Anyone who remembers how a U.N. agency once called for a global e-mail tax of one cent per 100 e-mail messages -- but didn't exactly get it -- can attest to that.
The U.N. report grew out of the financial problems that swept the world in the last year or two, which it diagnoses as arising from too much speculation in commodity markets, a bubble in stock markets and housing markets, and trade imbalances between countries like China and the United States. Its prescription? "More stringent financial regulation" and "diversification away from dollars" as part of a new system of constant exchange rates. (Supachai Panitchpakdi, UNCTAD's secretary-general, also wants "vigorous" global actions, including "managing" energy prices through taxes, to dramatically cut greenhouse gas emissions.)
The diversification-away-from-dollars idea is a close cousin to what the Chinese government has been saying recently. China, of course, can now claim the dubious honor of being the largest foreign holder of U.S. Treasurys worth a total of $776.4 billion as of June 2009. According to a U.S. government report from 2007, China was the top foreign owner of Freddie and Fannie bonds too.
One aspect of the U.N. report that stands out is that, in all of its 218 pages of analysis and charts, it doesn't seriously contemplate a new currency that's based on something other than paper money, which can be devalued as fast as governments can run their printing presses or add zeros to their banknotes. The two classic options are gold and silver -- which are resistant to governmental inflationary urges -- though I prefer economist David Friedman's suggestion of a bundle of commodities. Then again, returning to money that's backed by something tangible may not require the ongoing services of an entire U.N. bureaucracy.
Declan McCullagh is a correspondent for CBSNews.com. He can be reached at declan@cbsnews.com. You can bookmark the Taking Liberties site here, or subscribe to the RSS feed.
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How it might happen?is that the IMF (International Monetary Fund) will have trillions of dollars funneled into it.
What will the global currency look like? I believe it will be tied to gold. Based on the value of that gold, which will be confiscated by this IMF under international law in the near future, a method of buying and selling will unfold. Bible prophecy says it will be an all-in-one computer chip imbedded into humans.
A similar inicident took place about 4000 ears ago. Read Genesis 47. Pharaoh was in charge of Egypt?widely recognized as the world seat. They confiscated the money from the world, then bought back meat and property?from the same people who they confiscated all the money from.
In one of my books ? America?s Two Holy Wars, I wrote about where America in particular, and the world in general are heading, and it will be headed for the one-world (global) government headed by a world leader and ten appointed ?cabinet members?. The armies of the world, and police will become extinct, and this global government will hire the new armies and police ? ?International Civilian Police Force? with the new currency?.the ability to buy and sell using microchips embedded into their scalp.
Readers will have heard of the Green Zone?.the place in Baghdad, Iraq, where the American soldiers and Iraqi government are safely tucked away in the safety of 104 acres of protected land?surrounded by high concrete walls and the Tigris River that surrounds three sides.
This Green Zone now houses 28 buildings, is self-sufficient because it has its own water supply, power supply, satellite system for TV and communications, including telephone. President Obama will withdraw all U.S. troops from Iraq in December of 2011?by his own words. This is one year before the scheduled 2012 elections ? and they will never happen. A vote for a one-world leader will happen between now and then.
The Progressive Liberal Secularists (my book describes who they are) are currently in power within the governments of the world, including the U.S., and they are diligently working behind the scenes to do their work toward their goal ? a single, global government. The Green Zone will become the world headquarters for the United Nations by the year 2011, in my view. It can house 6000 people. Ask yourself, ?Why would we have spent billions to build this safe zone in Baghdad, Iraq in 2007?only to remove all troops from Iraq in 2011?? Oh, the Bible calls for all this to happen in Babylon. Babylon is now called Baghdad, Iraq!
If you want to know who I believe that global leader is, read my book. You all know him!
The goal of the Progressives in the U.S. and abroad is to bankrupt their countries. So far, the U.S. is well under way with the government control goal over healthcare, the banking industry, the auto industry, the environmental agencies, and now the education system. As some readers may know, the U.S. government is going to mandate that no private lenders will loan college students money any longer. All student loans MUST go through the government. With it will come new regulations that will mandate new curriculum for all schools, including public schools (funded by the government), and Obama wants to mandate that the payback for these loans will be that students must do a few hundred hours of community service. The leaders of those community organizer leaders will indoctrinate the students with their propaganda promoting their agendas.
Once countries are bankrupt, the IMF would be the only place to go to get money?once they enact laws that make all other currencies useless.
I believe the story in Genesis 47 about Pharaoh and the takeover of all currency in order to own the complete power and control over the populace will be the same story on the earth in the next few years.
All that is missing for the end times to emerge now is for Israel to defend itself by initiating a preemptive strike on Iran, and this will happen. The goal of God is not to strike Iran for the sake of retaliation, it is to initiate having the Jews clear all Arabs from Israel right after their preemptive strike on Iran. Once the Arabs have been told to leave Israel, the Jews will begin to dismantle the two Arab edifices on the Holy Mountain?Mount Zion, where the Dome of the Rock and al Aqsa Mosque now are. They will ship those sacred edifices to a holy place of the Arabs?likely Mecca.
Then, Israel will begin their goal of rebuilding the Holy Temple on top of Mount Zion. They have been prevented from doing this since the Holy Temple of God was destroyed on August 4, 70 A.D. August 4th is also President Obama?s birthday.
There is so much that will begin to happen ? just after the preemptive strike in Iran occurs.
When this event happens?.better read my books!
John Tyler, Author
How it might happen?is that the IMF (International Monetary Fund) will have trillions of dollars funneled into it.
What will the global currency look like? I believe it will be tied to gold. Based on the value of that gold, which will be confiscated by this IMF under international law in the near future, a method of buying and selling will unfold. Bible prophecy says it will be an all-in-one computer chip imbedded into humans.
A similar inicident took place about 4000 ears ago. Read Genesis 47. Pharaoh was in charge of Egypt?widely recognized as the world seat. They confiscated the money from the world, then bought back meat and property?from the same people who they confiscated all the money from.
In one of my books ? America?s Two Holy Wars, I wrote about where America in particular, and the world in general are heading, and it will be headed for the one-world (global) government headed by a world leader and ten appointed ?cabinet members?. The armies of the world, and police will become extinct, and this global government will hire the new armies and police ? ?International Civilian Police Force? with the new currency?.the ability to buy and sell using microchips embedded into their scalp.
Readers will have heard of the Green Zone?.the place in Baghdad, Iraq, where the American soldiers and Iraqi government are safely tucked away in the safety of 104 acres of protected land?surrounded by high concrete walls and the Tigris River that surrounds three sides.
This Green Zone now houses 28 buildings, is self-sufficient because it has its own water supply, power supply, satellite system for TV and communications, including telephone. President Obama will withdraw all U.S. troops from Iraq in December of 2011?by his own words. This is one year before the scheduled 2012 elections ? and they will never happen. A vote for a one-world leader will happen between now and then.
The Progressive Liberal Secularists (my book describes who they are) are currently in power within the governments of the world, including the U.S., and they are diligently working behind the scenes to do their work toward their goal ? a single, global government. The Green Zone will become the world headquarters for the United Nations by the year 2011, in my view. It can house 6000 people. Ask yourself, ?Why would we have spent billions to build this safe zone in Baghdad, Iraq in 2007?only to remove all troops from Iraq in 2011?? Oh, the Bible calls for all this to happen in Babylon. Babylon is now called Baghdad, Iraq!
If you want to know who I believe that global leader is, read my book. You all know him!
The goal of the Progressives in the U.S. and abroad is to bankrupt their countries. So far, the U.S. is well under way with the government control goal over healthcare, the banking industry, the auto industry, the environmental agencies, and now the education system. As some readers may know, the U.S. government is going to mandate that no private lenders will loan college students money any longer. All student loans MUST go through the government. With it will come new regulations that will mandate new curriculum for all schools, including public schools (funded by the government), and Obama wants to mandate that the payback for these loans will be that students must do a few hundred hours of community service. The leaders of those community organizer leaders will indoctrinate the students with their propaganda promoting their agendas.
Once countries are bankrupt, the IMF would be the only place to go to get money?once they enact laws that make all other currencies useless.
I believe the story in Genesis 47 about Pharaoh and the takeover of all currency in order to own the complete power and control over the populace will be the same story on the earth in the next few years.
All that is missing for the end times to emerge now is for Israel to defend itself by initiating a preemptive strike on Iran, and this will happen. The goal of God is not to strike Iran for the sake of retaliation, it is to initiate having the Jews clear all Arabs from Israel right after their preemptive strike on Iran. Once the Arabs have been told to leave Israel, the Jews will begin to dismantle the two Arab edifices on the Holy Mountain?Mount Zion, where the Dome of the Rock and al Aqsa Mosque now are. They will ship those sacred edifices to a holy place of the Arabs?likely Mecca.
Then, Israel will begin their goal of rebuilding the Holy Temple on top of Mount Zion. They have been prevented from doing this since the Holy Temple of God was destroyed on August 4, 70 A.D. August 4th is also President Obama?s birthday.
There is so much that will begin to happen ? just after the preemptive strike in Iran occurs.
When this event happens?.better read my books!
John Tyler, Author
Peace to all.
We have 82.7 Trillion dollars of debt on and off the books, plus the bailout of the Banking system.We have 153,597,770 people who work in the United States of America.
When you divide 82,700,000,000,000 by 153,597,770 people working........you get $538,419.00 dollars that each working US citizen owes for the governments debt.Half a million dollars.
The United States is already bankrupt. None of us will get money that is worth anything in Social Security payments when we retire. Our retirements will be worthless because of hyperinflation.
We are all screwed. These Harvard educated people who are running the United States cannot do basic math.
But they will tell your children to go to school, so that they can learn the basic math... that none of the past 6 presidents ever learned.
Obama says he has money for this health care plan? Look at the website....get out your calculator and see what a bunch of liars have been running the United States. Obama is just uttering the same Diahrea. He won't tell you the truth.....then you will know that school children's educations didn't have anything to do with the bankrupting of the United States.
Harvard educated Presidents and bankers did it all by themselves.