Dollar should be replaced as international standard, UN report says
Tuesday, June 29th, 2010
Problem, reaction, solution: globalist bankers have been successful at blowing out the US dollar and the Euro and bringing them to the brink via massive wealth destruction through the sale of fraudulent derivative securities, the monetization of the resultant debt, and “stimulus” inflation. This artificial debt bubble is just about set to pop, and a new solution is being offered by the same people, in much the same way a crack dealer strings along his victims.Want a hit? The first one’s free.
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Gabriella Casanas, Mick B. Krever, CNN
June 29, 2010
The dollar is an unreliable international currency and should be replaced by a more stable system, the United Nations Department of Economic and Social Affairs said in a report released Tuesday.
The use of the dollar for international trade came under increasing scrutiny when the U.S. economy fell into recession. “The dollar has proved not to be a stable store of value, which is a requisite for a stable reserve currency,” the report said.
Many countries, in Asia in particular, have been building up massive dollar reserves. As a result, those countries’ currencies have become undervalued, decreasing their ability to import goods from abroad.
The World Economic and Social Survey 2010 is supporting a proposal long advocated by the International Monetary Fund to create a standardized international system for liquidity transfer.
Under this proposed system, countries would no longer have to buy up foreign currencies, as China has long done with the U.S. dollar. Rather, they would accumulate the right to claim foreign currencies, or special drawing rights, or SDRs, rather than the currencies themselves.
Close your eyes and name the G20 countries.
Paul Martin sat in Lawrence Summers’ spacious office in the Greek-columned U.S. Treasury building in Washington, searching in vain for a piece of paper. With none in sight, the two men grabbed a brown manila envelope, put it on the table between them, and began sketching the framework of a new world order.
Europe will call for imposing a transaction tax on financial institutions at the G20 summit next week as well as a levy on banks to help pay for the costs of the crisis that started in the banking sector.
The European Commission, the executive body of the European Union, has revealed a set of proposals to fully integrate the economies of the EU member states and centralize power under a federalized union.