US Downgrade: World Is Calling Even Louder For A New Global Currency

The American Dream
Aug 15, 2011

Dollar

For decades, the U.S. economy was so dominant compared to the rest of the world that nobody really even challenged the status of the U.S. dollar as the reserve currency of the world.  But now that U.S. government debt has been downgraded, the U.S. dollar is showing significant weakness and the U.S. economy continues to crumble, the rest of the world is questioning whether the U.S. dollar should be allowed to continue to have such a privileged position in the global marketplace.  Politicians all over the world are now openly calling for a new global currency to replace the U.S. dollar in international trade.  In fact, we are already seeing a shift away from the dollar in many areas of the globe.  A decade ago, the U.S. dollar made up approximately 70% of all foreign exchange reserves around the world.  Today, that figure is down to about 60%, and it continues to fall.  As the debt problems of the U.S. government get even deeper, and as the U.S. dollar loses even more strength, the calls for a truly global currency are going to grow even louder.

Right now, the global financial system is still based on the U.S. dollar to a very large degree.  But dissatisfaction with the status quo is growing around the world.  Many are blaming the United States for the massive financial problems that we have had in recent years.

Many global politicians these days seem quite eager to jump on any chance to criticize the U.S. financial system.  In particular, the recent downgrade of long-term U.S. government debt by SP has provided plenty of ammunition for international proponents of a new global currency.

The largest bank in Saudi Arabia, National Commercial Bank, recently had the following to say about the U.S. dollar….

“The size of the US economy and its treasury market and the dollar’s status as a reserve currency make it impossible to find a historical parallel for the current situation. However, being the world’s reserve currency, the US dollar now appears inconsistent with an AA+ rating.”

China’s official Xinhua news agency has been brutally attacking the U.S. financial system in recent days.  The following is one example….

“The only way the Americans have come up with to improve economic growth has been to take on new loans to repay the old ones.”

In fact, Xinhua has even gone so far to suggest that U.S. monetary policy should be under “international supervision” and that a new global reserve currency should be created….

“International supervision over the issue of U.S. dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country.”

The Russian government has also been a vocal proponent of a shift away from the U.S. dollar.  At a G8 summit back in 2009, Russian President Dmitry Medvedev openly spoke of the need for a new global currency and he evenshowed reporters a coin that represented what a “united future world currency” could potentially look like.

But it is not just individual nations that have been calling for a change.  Over the last couple of years, the United Nations has repeatedly called for the U.S. dollar to be replaced as the global reserve currency.

For instance, a UN report entitled “The U.N. World Economic and Social Survey 2010″ openly talked about how the transition from the U.S. dollar to a new global currency could be accomplished.  The report made very few headlines around the world, but Americans need to understand that the UN itself is openly plotting to dethrone the U.S. dollar.  The following is a brief excerpt from the report….

“A new global reserve system could be created, one that no longer relies on the United States dollar as the single major reserve currency”

The IMF has also been instrumental in promoting the idea of a new global currency.  In a recent report entitled “Enhancing International Monetary Stability—A Role for the SDR“, the IMF discussed the “problems” with having the U.S. dollar as the reserve currency of the world and it postulated that a larger role for SDRs (Special Drawing Rights) could potentially be an important step toward a true global currency.

  • A d v e r t i s e m e n t

In fact, the report described SDRs as “an embryo” from which a new global currency could ultimately develop.

So what would a global currency look like?

While he was still head of the IMF, Dominique Strauss-Kahn openly called for the introduction of a global currency backed by a global central bank which would act as the “lender of last resort” in the event of a severe economic crisis….

Finally, in principle, a new global currency issued by a global central bank, with robust governance and institutional features, could provide a nominal anchor and risk-free asset for the system independent of national currencies. This global central bank could also serve as a lender of last resort.

But is that what we really need?

A global currency issued by a global central bank?

Such a system would not be accountable to American voters whatsoever.

Not that the Federal Reserve is accountable to us right now, but at least there is some hope of abolishing the Fed under the U.S. Constitution.

Under a global central banking system, the American people would have essentially no power over the monetary system and the international bankers would have almost all the power.

Of course that is what the international bankers have always wanted – complete control over the financial system of the entire world.

Sadly, it seems as though whenever financial problems arise these days, the solutions we are given always involves more centralization of financial power.

There seems to be a growing consensus among the ultra-wealthy and the global elite that a one world financial system is what we need.  But getting there will not be easy.  The U.S. dollar is not dead yet, and much of the rest of the world has grown accustomed to using it.

However, if the U.S. dollar were to “collapse”, that could create a crisis which would give the global elite the excuse they need to push us in the direction of a truly global currency.

Let’s hope that nothing like this happens any time soon.

Could you imagine living in a world in which you were unable to buy or sell unless you participated in the global currency system?

That is a frightening thing to think about.

Our world is changing, and not for the better.

A global currency would be a really, really bad idea.  Hopefully we still have some more time before one gets rammed down our throats.

 






 
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18 Responses to “US Downgrade: World Is Calling Even Louder For A New Global Currency”

  1. Nobody needs nor could any economy thrive on an unregulatable “global” form of Labor Exchange Currency. All economies are local. The value of every local economy’s publicly owned and openly and transparently issued and regulated Labor Exchange Currency in a Greenback System, (public Poker gaming) not secret borrowed-debt private monetarist Mafia Casino System (private stacked-deck Blackjack gaming) is dependent upon the exportable output of the sum of the values of the exportable products of all of it’s members labors.

    Labor is the prime commodity. It, unlike all others, is an infinite resource by it’s very nature. Not only can labor create value but it can also multiply it, and it need not do so physically as intellectual labor is also an exportable infinitely value added resource.

    .One cannot use a limited, hoardable finite resource’s value, such as the value of DaVinci paintings or the value of gold or the value of oil or the value of silver as anything other than a “loose standard” benchmark to measure an economy’s Labor Exchange Currencies rate of inflation by.

    The measure of the “global” exchange rate value of a local economy’s Labor Exchange Currency token is one thing alone that economy’s Balance of Trade.

  2. Only thing is the AntiChrist has to come first, and he will rule with computer credits not cash linked to a readable scan type marked chip injected permanently under your skin in your right hand or in your forehead for the purpose of buying selling! If your refuse the mark you will either be forced or you will be killed!

    Notice how the elites handle the poor and even the middle class now! More and more by force as if they care less about your freedoms and rights! Receive Jesus today and be protected from forced marking! –e

    See issue guide after clicking my name which leads you to the Family International Activated site where you can find solutions by reading short articles there! The Family International are Christian missionaries that are doing a great job bringing the truth to all lands around the world through song, shows videos and childcare!

    They have a reputation now of being the highest standard in childcare anywhere on the planet! They have suffered bad publicity in the past as they were maturing, but they have overcome court cases concerning their children and have progressed beyond anyone’s dreams because of their fighting spirit for Jesus in prayer and samples of Christian lifestyles that radiate real love and peace everywhere they go which is what Jesus is all about!

    See issue guide after clicking my name which leads you to the Family International Activated site where you can find solutions by reading short articles there! The Family International are Christian missionaries that are doing a great job bringing the truth to all lands around the world through song, shows videos and childcare!

    They have a reputation now of being the highest standard in childcare anywhere on the planet! They have suffered lies about bad behavior of a few members who made mistakes in the past as they were maturing, but these folks have overcome court cases concerning their children and have progressed beyond anyone’s dreams because of their fighting spirit for Jesus in prayer samples of Christian lifestyle that radiate real love and peace everywhere they go which is what Jesus is all about!

    The reason for this extra explanation is I have a critic online who goes about to malign my work as a winess is named webworker who has recently been very hateful about the Famly and sayng many cruel things about them copying much of his biased info. from the family’s enemy site! Yes Jesus had enemies too sad to say! Please ignore his clever ways of making the Family look bad from past court cases that have all been won by the family members till now and their excellent reputation continues to thrive!

    Please know the Devil fights me hardest, when I’m doing a good job! Webworker has been using the worst kind of things to say about us and is very sure he’s right! He doesn’t believe in Jesus and is a bit simple minded at the moment and never writes me or listens! If you wish to follow dumb blindness then be my guest, but I’m sure you’ll see the best side to support with a little study! Thanks for listening! –e

  3. See: The one that flew over the Cuckoo’s nest! movie

  4. Good idea for a united currency wiping out all external international internal national debt as a pre condition!

  5. America allowed the free fall of it’s currency, because it’s good for them in various ways!

  6. American dream is just a false hope for the vast majority of people. Bankers own the vast number of working poor in America. poor people do not own properties, homes in America. they work like a donkey just to make ends meet, live in fear of IRS, do not have health care. Poor don’t have access to higher education. public schools operated by Zionist professors are designed to be a failure for non white and non Jewish students. society mocks at the misery of the working poor. they work long hours for little pay that is not enough to support a family. It’s akin to living life like a prisoner of war, means; if you stop working you die. it’s lesser than indentured slavery. this is the country media advertize as the best country in the world where we have no say in political process. we never had a participatory democracy. every election year, people have the excuse to vote for same old garbage politicians because people are very racist and they like the very war like, xenophobic culture that exist. America keeps on invading countries and keeps on robbing people off their wealth. America pours billions in Israel every year as if people here have enough money to live a decent life. what we actually have is a scientific form of slavery.

  7. yep. ending the fed will bring on the new world currency. That was the plan all along.

  8. A fiat currency’s actual value is always determined by what it is used for, as it has no other real value than confidence placed in it by people.

    Some of the things that dilute confidence or turn it negative are:

    Engaging in unwarranted wars (murdering people for money).
    Printing too mush money.
    Not producing enough real products but instead pretending to, i.e., derivatives, money laundering, harmful drugs, the list here is endless.

    A bankers view of what makes money valuable is scarcity and social pain associated with scarcity. They recon if very few people have money, and those that don’t suffer because of it, their money has more power and influence a good thing for the bankers, or so they believe.

    The founders new the honest and moral way to make money valuable, let people make things of value (brings happiness) for other people.

    Economy, despite what the elite like to pretend, is not more complicated than make something somebody likes and get paid for it.

    Lying, cheating, stealing and outright fraud make complications necessary.

    So, now you know, if a politician or a banker tells you that the situation is complex, you know what they are actually trying to do, live a life of luxury by cannibalizing the lives of those to busy to notice.

    Modern economics is a deadly social disease that actually is not modern, Moses knew it (worship of golden idols), Jesus knew it (drove the money changers out of the temple, probably the real reason he was crucified) and our own Thomas Jefferson knew it.

    Please take you attention off your work-a-day lives just long enough to notice, right decisions are much easier then.

  9. NEW WORLD ORDER PLAYBOOK EXPOSED

    Scam artists (Al-Qaeda) have cornered the market on affiliate marketing education. Their sites use aliases, bogus whois info, and registrations in different states and countries. What are they hiding?

    Many get rich quick scams serve as product placement for new cutting edge internet technologies, and logos, some sold through Clickbank. The people appearing in testimonials are part of the expansion of this organization and are often pitching other high priced products and services. They all link to one another through their marketing strategies and ability to optimize in search rankings.

    Between the aliases the use, and the way in which they speak about things, everything they do has double meaning. Their faces in Google image search is similar to the picture book of symbols mentioned in The Da Vinci Code movie. Here is a code of look a likes pitching all sorts of stuff who are interconnected;

    Selling a program on making millions online is Professor James Bradley who looks like the Pentagon bomber Bill Ayers.

    Jay Conrad Levinson is behind a number of “guerilla” marketing and advertising books. He looks like George Soros, who’s last name is a (palin)drome. Soros has been credited for collapsing a number of nation’s currencies. George Soros has been quoted several times regarding his views on a New World Order.

    The Super Affiliate Handbook is sold by someone who looks like Jill Biden, her name is Rosalind Gardner. Some appear to represent people, more in how they pose, rather then a direct look alike. Stephen Pierce appears to represent radical Van Jones, Brett McFall-Austan Goolsbee, John Childers-Andy Stern, and Jay Abraham as Ayman al-Zawahri, just to name a few.

    Problem with your Google Adwords PPC ads and can’t get a straight answer? You could try Yanik Silver who looks a lot like Sergei Brin, but he probably won’t know. He sells 33 Days to Online Profits (prophets.) Why not try Perry Marshall, who looks like Obama’s priest Reverend Pfleger? He sells The Definitive Guide To Google Adwords, infringing upon Google’s trademark.

    Many more can be found at Lorrie Morgan Ferrero’s Red-Hot-Copy blog such as; 72 Virgin Records Richard Branson, White House Party Crashers the Salahi’s with Valerie Jarrett’s daughter.

    The Rich Jerk sent out emails promoting Stompernet in Atlanta Georgia. The staff included Brad Fallon, an airline pilot, and Eben Pagan selling a seminar “Get Altitude”. 3 days after reporting this code to the FBI, Delta in Atlanta canceled a large number of flights due to “safety reasons.” In the Youtube videos related to the Rich Jerk, it appears that Mark Cuban is the Rich Jerk. He’s the billionaire who owns the Dallas Maverick’s basketball team. Think Barack O’bomber or Barrac-uda Palin would play for him? Another guy seen on Youtube claiming to be Robert Johnson Rich Jerk, is Tony Rezko.

    Obama announced his run for office on Oprah Winfrey’s show. Have you ever noticed that Oprah’s friend Gayle King looks like Whitney Houston? Her name may be a code, Whit_ney White-Hous_ton House.

    It appears the internet marketing experts controlled the comments, the headlines, and the finance of the last election online with the highest ranking site in Google search, Youtube.

    In my strongest opinion this is the last piece of the puzzle, Osama Bin Laden is also a spokesperson, and a look-a-like. Osama represents Obama/Biden (Bi)n La(den.)

    Learn what Osama, Obama, Biden, Bin Laden, the FBI’s Most Wanted Terrorists, and Sarah Palin had to do with the last presidential election and the military’s overthrow of our government. Search ElectNoMoreSpys.blogspot

  10. Please understand You DUMBasses if You Dont Have Gold and Silver You deserve what you Get….Yall Keep Playing Around with your pants half down your ass Your gonna be brokeAss in short time….Remember the debate between Chairman Ben Bernanke a few weeks ago on whether Gold is money?…That Drunk ass is Gonna find out….Little bitch Ben is a puppet…Get a list of Famers that accept gold and Silver like I did ….unless you wanna carry a Cow on your back for trade or your wife …Better get gold and silver before you have to sell your ass for food….

  11. the world is addicted to FIAT bubble money market Big Brother gov’t they all want more FIAT money Big govt power,.
    most of them are not knowing about banksters or corrupted politicians but I also saw so many people who knew about banksters secret society; however they didn’t care about it.
    i really understand that why George Soros some elites think that the people are parasites…

  12. global currency means the bankster elite is finally locking prison planet gates behind the rest of all mankind.

  13. Let’s just go back to the Barter System..

  14. This is an idiotic issue.

    For one there already is a global currency, it’s called gold and it works great.

    Secondly, how’s that Euro working out for the Europeans? It sucks completely and it’s going to go down as Germany is getting the shaft having to support the PIGS countries and baiil there asses out.

    Global currency is an even bigger scam than the Euro.

    But I hold gold and I’m not selling. All of this news will be good for gold.

    • A few companies have already created a “private currency” gold and money product. Tamper proof “real money” accepted world wide expanding worldwide fast. NOT CONNECTED TO BANKERS.

      This is the solution. Online accounts, merchant accounts, Internet currency, people will be able to use this new money same as debit card.

      Banksters and new world order did not see this one coming!

  15. I say we all get together, do a march to Washington and hold signs saying, “RON PAUL TO END IT ALL” signifying he is the only one who can put an end to everything these globalists have started.

  16. Change happens slowly. If the Global currency thing doesn’t happen in the next few years, it will happen in another decade or so. The global elite know not to rush into things and to create incidents in order to cause things to happen slowly and gradually, making the sheeple unaware of what is going on until it is too late. Just like the emperor. The Global currency will happen. No one wants it, but then again, no one wanted a war with Libya, Syria and God knows where else, but it happened with or without the people’s approval. It’s always about the money. The sooner people stop believing money is a god, the better our world will be. If it happens, I say we take out the banks at their source. They want to get all centralized on us, well that will be their downfall. Blowup the central banking system and the rest will fall like dominos due to confusion. The people just need to wait for the system or their all powerful “Death Star Bank” to be completed for it to happen.

    P.S. Sorry about the Star Wars analogies but it does put things into perspective with what is happening in the world today.

  17. SLAVERY NEVER ENDED: AMERICAN DEBT SLAVERY
    youtube.com/watch?v=RnnHFtdh_7M

    and

    WHY BANKS SHOULD BE MAKE MUCH SMALLER
    youtube.com/watch?v=6qIUVP07F44

    WHAT IS TRUTH AND WILL IT SET YOU FREE
    youtube.com/watch?v=DzaxXfQvSn8

    OBAMA SUPPORTERS VS RON PAUL SUPPORTERS.
    youtube.com/watch?v=fyKzm4tMaUE

    FAST AND THE FURIOUS SOCIAL DECAY
    youtube.com/watch?v=mY19z3kOGp4

    WE ACTUALLY APPLY TO BECOME SLAVES NOW
    youtube.com/watch?v=Qd6Mr2sn2Hw

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