Again? Enough already, we get it. And you know what, DSK? We’re cool with our own national currencies without handing control of the global monetary supply to your privately held central bank. Thanks, but no thanks.
Flashback: U.S. urges China to strengthen currency | George Soros Calls for World Currency and “New World Architecture” | U.S. dollar sags on global financial leaders’ omission | G20 Meet To Finalize Dumping Of Dollar This Weekend? | Dollar Reaches Breaking Point as Central Banks Shift Reserves | Fisk: Nations to hasten demise of dollar in new world order | US dollar set to be eclipsed, World Bank president predicts | Bilderberg Wants Global Currency Now | Dollar to fall under scrutiny at G20 summit | UN wants new global currency to replace dollar | G20 agrees to continue economic stimulus measures; Geithner shops international reserve accord | China Set to Buy $50 Billion in IMF Notes | Medvedev Unveils “World Currency” Coin At G8 | China calls anew for super-sovereign currency | China explores buying $50bn in IMF bonds | Chinese economists deem huge holding of US bonds “risky” as Geithner visits | A Bigger, Bolder Role Is Imagined For the IMF | UK PM reveals G20 plan to boost IMF by $1 trillion, hails new world order (again) | UN & IMF Back Agenda For Global Financial Dictatorship | U.N. panel says world should ditch dollar | IMF poised to print billions of dollars in ‘global quantitative easing’ | Gordon Brown seeks sweeping reforms to give IMF global ’surveillance role’ | IMF may need to “print money”, act as “world’s central bank” as crisis spreads | Globalists Exploit Financial Meltdown In Move Towards One World Currency | World needs new Bretton Woods, says Brown | IMF prescribes state regulation of ‘global financial order’ | Bilderberg Seeks Bank Centralization Agenda | Banks face “new world order,” consolidation: report
Steve Watson, Infowars.net
November 17, 2009
Global financial body wants complete overhaul as soon as possible
The head of the International Monetary Fund has once again called for a new global currency to replace the Dollar, adding that the momentum to instigate such a system is fading.
Dominique Strauss-Kahn told a forum on Tuesday that he wishes to see an emboldened IMF pave the way for the emergence of a global currency based on the monetary body’s special drawing right (SDR).
“That probably has to be a basket,” Strauss-Kahn said of the eventual replacement for the dollar. “In a globalized world there is no domestic solution,” he added.
The IMF head said that the world can no longer rely on a currency issued by a single country to ensure global financial stability.
Strauss-Kahn also said that China should re-value its currency in order to straighten out global economic distortions and imbalances. [Ed. Note: Note how this is exactly what Obama announced today as well.]
Strauss-Kahn said that since the G20 summit in March, where agreements were made to reform the global monetary system, political willingness to carry out such an overhaul has waned.
Former IMF chief, Michel Camdessus, added that “time is of the essence” for global monetary reform. Camdessus said that he backs a shift of power to big emerging economies to act as a corollary of a strengthened role for the SDR.
“This favourable window of opportunity is there. It will not stay open forever,” Camdessus told the forum.
The IMF first touted the possibility of a new global currency in March. The issue was then debated at the G20 Summit in London just days later.
A clause in Point 19 of the communique issued by the G20 leaders led to analysts describing the dawn of a “revolution in the global financial order.”
“We have agreed to support a general SDR allocation which will inject $250bn (Ãƒâ€šÃ‚Â£170bn) into the world economy and increase global liquidity,” The clause stated.
SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that had lain dormant for half a century. [Ed. Note: That's BS. International banks use it to settle accounts every day.]
“In effect, the G20 leaders have activated the IMF’s power to create money and begin global ‘quantitative easing’. In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it.” Ambrose Evans-Pritchard of the London Telegraph wrote at the time.
“The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity.” he added.
The same conclusion was drawn by the Washington Post’s Anthony Faiola, who described how the IMF is on course to be transformed into “a veritable United Nations for the global economy.”
Source | See also under Money: U.S. urges China to strengthen currency | Federal Privacy Commissioner raises alarm over terror security measures | George Soros Calls for World Currency and “New World Architecture” | U.S. dollar sags on global financial leaders’ omission | Gold rallies to record above $1,100 | Bank of England extends quantitative easing to Ãƒâ€šÃ‚Â£200bn | G20 Meet To Finalize Dumping Of Dollar This Weekend? | Gold prices surge as India buys IMF reserves | Plentiful paper currency buffing gold’s shine | Soros: China Will Lead New World Order | The time has come for North American monetary union | Loonie continues race toward parity with U.S. dollar | Dollar Reaches Breaking Point as Central Banks Shift Reserves | Flaherty drafting voluntary code for new credit company debit cards | Gold continues record-breaking run | Gold price rises to all-time high | Fisk: Nations to hasten demise of dollar in new world order | Banks balk at new credit card rules | Tight credit new threat to rebound, IMF warns ahead of Istanbul meeting | US dollar set to be eclipsed, World Bank president predicts | Dollar to fall under scrutiny at G20 summit | Credit card debt balloons | IMF approves $13bn gold sale to boost lending fund | US credit shrinks at Great Depression rate prompting fears of double-dip recession | Canada’s $1-trillion debt baby | Gold regains $1,000 | UN wants new global currency to replace dollar | Gold toys with $1000/oz | China Set to Buy $50 Billion in IMF Notes | Investors dump money market funds | More US Bank Failures and The Coming Deposit Insurance Bailout | Industrial demand for silver sharpens bullish view | Underwhelming GDP growth fails to move stocks, loonie | Ottawa plans U.S. dollar bond | A Stock Market Rally Engineered by Government | Central bank of Canada stands ready to inflate currency in response to strong loonie | Credit delinquencies up 24% in June | Derivatives rear their ugly head again: Leveraged ETFs outed | Former NY governor Spitzer: Federal Reserve is ‘a Ponzi scheme, an inside job’ | Global demand for gold investment soars 38% in past year | Cost Of US Bailout Hits A Whopping $24 Trillion Dollars | Timothy Geithner: travelling bond salesman | Record quarterly profits and bonuses: Goldman Sachs makes out like a bandit on taxpayer’s dime | Fed ‘Independence’ or Fed Secrecy? | Medvedev Unveils “World Currency” Coin At G8 | More Canadians in arrears on credit payments | The search for the mint’s missing gold | China calls anew for super-sovereign currency | Central banks to take off ‘training wheels’ | Congressman Ron Paul Slams Federal Reserve’s New Dictatorial Powers | Central Bank of Canada ‘considering’ regulatory changes, ‘continuous private liquidity creation’ | The next cellphone trick: transferring money | Royal Canadian Mint’s ‘lost’ gold worth a mint | Bullion and Bandits: The Improbable Rise and Fall of E-Gold | No one talking about dumping dollar: China minister | China explores buying $50bn in IMF bonds | Has the Mint’s gold vanished? | Chinese economists deem huge holding of US bonds “risky” as Geithner visits | Soaring loonie adds to anxiety over economy | Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation | Federal deficit to top $50B | Canadian households $1.3-trillion in debt | Digital Money Forum Pushes For Electronic Currency | Obama signs U.S. credit card reforms into law | Credit card changes benefit families, Flaherty says | Quebec pension fund managers boosted derivatives holdings despite warnings | Leaked 1955 Bilderberg Docs Outline Plan For Single European Currency | Banker at heart of credit crisis leads plan to buoy auto sales | Bank of Canada poised to print money to buy bonds | Credit companies seek to avoid regulation, create global debit system | Congressman: Reckless Spending And Taxation Prolonged Great Depression | Barclays, Lloyd’s, RBS join Goldman-Sachs in the black | Goldman-Sachs to repay TARP loan, resume private operations, bonuses, at “earliest time” possible | Bilderberg chairman: ‘Bilderberg helped create the Euro’ | Financial Rescue Nears US GDP as Pledges Top $12.8 Trillion | US backing for world currency stuns markets | UN & IMF Back Agenda For Global Financial Dictatorship | Geithner Plan Will Rob US Taxpayers: Stiglitz | US unveils P3 plan to monetize debt, nationalize banks | Bank crisis spawns new kind of gold rush | Wall Street’s Big Takeover |Financial Post editor: America’s future at risk of ‘inflationary outburst’ | U.N. panel says world should ditch dollar | IMF poised to print billions of dollars in ‘global quantitative easing’ | G20 officials pledge ‘whatever action necessary’ to revive economy | Mainstream Financial Publication Finally Admits that Austrian Economists Were Right | UK Central Bank begins using ‘new’ money | Central bank tactics pushed to brink | IMF emergency fund is doubled to $500bn, Northern Rock bank granted $14bn bailout | EU backs sweeping new financial rules, more power for IMF | Gold Tops $1,000, First Time Since March as Recession Deepens | Zimbabwe drops state currency monopoly, pegs prices to US dollars | How realistic is a North American currency? | All maxed out? Budget measures would improve credit access | Gold surges past $900 mark | Prominent Economist: Crisis Caused By Government Interventions | Zimbabwe unveils 100 trillion dollar banknote | Bank of England cloaks books, fears of monetary manipulation arise | Canadians starting to save cash, shun debt | Analyst: One Third Of Banks Could Collapse or Merge In 2009 | Banks won’t say where U.S. bailout money going | UK: Bailiffs get power to use force on debtors | IMF Chief Warns Of Riots In Response To Economic Crisis | Bank of Canada ready to monetize distressed equities | The ugly spectre of ‘new Keynesianism’ and the self-appointed Guardians | ‘Outrage’ greets banks’ failure to match rate cut | Mexico to downsize metal in coins to save a few cents | Icelanders storm central bank in protest | UK closer to joining euro, EU commission president says | Iceland turns 90 amid economic ruin, currency freeze | Maybe we should look at Zimbabwe before trying to print our way out of a money crisis | Obama appoints architects of economic collapse, financial globalism to economic team | Paulson, Bernanke defend change of plan: $700-billion now to be given directly to banks | Manipulation Of Gold And Silver Prices Further Exposed | Now the consumer crunch: falling credit limits, rising interest rates | Coming soon to your cellphone: Your credit card via RFID chip | A New World Financial Order: It Better Work This Time | Analysts Predict Hyper-Inflation To Push Gold To $2000, Oil to $300 | Ottawa to pour another $50B into mortgage markets | Bank of Canada adds $8B to credit markets | Fed Hides Destination Of $2 Trillion In Bailout Money | Flaherty lauds Keynesian global ‘economic stimulus’ strategies | Who are the Architects of Economic Collapse? | ‘Smart’ Credit Cards, Pilot Project set the Groundwork for Wireless Credit Wallets | Russian government calls for new World Order | New credit cards may shift unauthorized-transaction liabilities to the holder | IMF may need to “print money”, act as “world’s central bank” as crisis spreads | Greenspan tells Congress he’s shocked by credit crunch | Ottawa to guarantee interbank lending | Globalists Exploit Financial Meltdown In Move Towards One World Currency | Wanted: a new financial order | EU leaders to meet Bush and plan “refoundation of capitalism” | Loonie leaps, then reverses course | Bush outlines radical plan to part-nationalise banks | World needs new Bretton Woods, says Brown | IMF prescribes state regulation of ‘global financial order’ | Behind the panic: Financial warfare over the future of global bank power | Tim Rogers: Global Bankers Have Unleashed Inflationary Holocaust | New World Order: Global co-operation, nationalisation and state intervention – all in one day | Federal Reserve Moves to Monetize Commercial Paper Debts | Bank of Canada greases financial system with $12B in new cash | Congressman Ron Paul: Bailout Will Destroy Dollar, World Economy | Canadian Supreme Court refuses to hear appeal in ABCP case | Bank of Canada piles on in global inflationary swindle | Central banks continue inflating global economy | Court Grants Big Banks Immunity from Lawsuits over Derivatives Losses | Financial ’super cop’ role for Fed | Ottawa warns on gold-backed Web trades | Inflation takes over as public enemy No. 1 | Fed eyes Nordic-style nationalisation of US banks | Treasury’s Plan Would Give Fed Wide New Power | Consider a continental currency: Jarislowsky | Globalization makes national currencies obsolete | Vicente Fox Admits Plan For Single NAFTA Currency | Fraser Institute: The Case for the Amero