UN wants new global currency to replace dollar
- Thread starter Machjo
- Start date
That is right. You are part owner of the corporation known as the USA. Check all you ID cards. The name on them is all in capital letters. That represents your corporate entity, not you as a natural person. That entity hold shares in the corporation of the USA as we hold shares in the corporation of Canada. In Canada, we have a red number on our birth certificate that is the number of a trust account in our corporate name. The natural person (the person whose name is in upper and lower case letters) is the legal representative of that corporate entity (all in upper case letters). Worth looking into because legally you have access to those funds.
Petros, correct me if I'm wrong.
Actually, I wasn't out to 'get you' on spelling, I just thought that was a funny phrase.
But that was ME, with all upper case letters, as opposed to me, with lower case.
Four countries wish to play cards. They go to the bank. Each country borrows 13 cards. The next day when they finished the card game each country ended up with 13 cards. They return the cards to the bank. The bank now states that the countries owe the bank 4 cards for interest. Since the 4 extra cards were never issued each country is now indebted to the bank. The bank now makes political decisions for the countries. The boys that are doing this are private business men and the US government , the Canadian government and so on gave up the right to issue currency and determine it's value to them---YUP THAT is the way it should be--???Ask President John Kennedy.
Read up on the presidents and the private bankers
Far from creating a Global currency, we need to reestablish the sovereign nation state. At the core of that is sovereign control of currency and credit. We had a system that worked from 1946 to 1971, the Bretton Woods Agreement, that set fixed exchange rates, through the so called Gold Standard.
That was laid waste by the rise of monetarism, and the global casino of currency speculation that now rules the world economy, only a fraction of which supports real physical trade. The currency derivatives now represent a claim of 20X the world's productive capacity. When that bubble bursts, hyperinflation and complete economic chaos loom.
The IMF, World Bank, and WTO have proven themselves corrupt and ineffective at managing the world economy, the UN would be as bad, and likely worse. It is time to reestablish the nation state, and regulation in the national interest of trade, currency and credit. That is the only hope of getting out of a downward spiralling economic malaise.
That was laid waste by the rise of monetarism, and the global casino of currency speculation that now rules the world economy, only a fraction of which supports real physical trade. The currency derivatives now represent a claim of 20X the world's productive capacity. When that bubble bursts, hyperinflation and complete economic chaos loom.
The IMF, World Bank, and WTO have proven themselves corrupt and ineffective at managing the world economy, the UN would be as bad, and likely worse. It is time to reestablish the nation state, and regulation in the national interest of trade, currency and credit. That is the only hope of getting out of a downward spiralling economic malaise.
The currency derivatives now represent a claim of 20X the world's productive capacity. When that bubble bursts, hyperinflation and complete economic chaos loom.
I don’t think currency trading leads to any bubble as such, Coldstream. The traders however, can cause run on the currency of a particular country, it has happened many times. When the Asian bubble collapsed, there was a run on many Asian currencies.
Canadian dollar is also susceptible to some extent. It went as low as 60 cents USA, then went up to par (or was it slightly above par), now it has settled to slightly below US dollar. Analysts say that it will surpass US dollar in the not far distant future.
So undoubtedly currency trading can substantially affect the particular currencies. However, I don’t’ see any worldwide crises in currency trading, like we recently had with the meltdown.
I don’t think currency trading leads to any bubble as such, Coldstream. The traders however, can cause run on the currency of a particular country, it has happened many times. When the Asian bubble collapsed, there was a run on many Asian currencies.
Canadian dollar is also susceptible to some extent. It went as low as 60 cents USA, then went up to par (or was it slightly above par), now it has settled to slightly below US dollar. Analysts say that it will surpass US dollar in the not far distant future.
So undoubtedly currency trading can substantially affect the particular currencies. However, I don’t’ see any worldwide crises in currency trading, like we recently had with the meltdown.
The basic rule is that the value of all the currency in a country is equal in value to the country's GDP. The same applies with an international currency like the euro. The value of all euros together equal the value of all the combined GDPs of the eurozone. Why would the rule be any diffeent on a world scale?
The world economy wasn't as integrated back then either. There's a reason they abandoned the gold standard: as the world economy became ever more integrated, the more chaotic the money markets became. Eventually, it had to be abandoned.
But otherwise I fully agree. Ottawa ought to adopt its own currency. I think it would be a pretty one with a drawing of the Rideau Canal. But I think it would be a good idea to share a currency with Gatineau across the river since our local economies are quite integrated overall. I'd also support more inter-urban trade restrictions to protect jobs locally. And just imagine the jobs created by having douzens of currencies floating around every corner of Ontario. Brilliant.
There is absolutely no correlation between a world currency and inflation. Just as it's possible for a national currency to be maitained either responsibly or irresponsibly, so the same would apply to a world currency. The only difference being that with a world currency, establishing and maintaining stability would be easier than a national one owing to the elimination of currency specuation and other currency trading. Even without specuation, just the normal trading alone makes the world's currencies increasingly difficult to maintain.
IMO, it doesn't matter if we have national currencies or just one global currency. Eventually currency will be a embedded microchip anyway. That's far worse any day.:-|
Ya! There is one in the swine flu shot they will be giving everybody this fall. Be prepared to be chipped (mark of the beast!) Ah well Alley, you'll be raptured before that happens any way.;-)
Yes, but think how many made or lost money during this recession. There are many people 45-65 years old who will never work again except maybe as a Wal-Mart greeter. Yes, the banking system will go on and we can see it now with little or no change. Goldman Sachs devoured off the major competition, wiped out the world and are now moving on. Yes things will get better, but there are to many causalities out there who will never recover.
That is why it is necessary to strictly regulate the banking sector, ironsides. Obama has proposed banking regulations but it has been languishing in the Congress so far. Maybe the banking lobby got to the Democrats, I don’t know.
However, if banks are not regulated, they will be up to their old tactics again (some say they already are) and another meltdown is possible. It depends upon whether banks and the Congress learn anything from this meltdown, or simply ignore it now that the worst seems to be over and carry on with business as before.
That is why it is necessary to strictly regulate the banking sector, ironsides. Obama has proposed banking regulations but it has been languishing in the Congress so far. Maybe the banking lobby got to the Democrats, I don’t know.
However, if banks are not regulated, they will be up to their old tactics again (some say they already are) and another meltdown is possible. It depends upon whether banks and the Congress learn anything from this meltdown, or simply ignore it now that the worst seems to be over and carry on with business as before.